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Thailand Considering to Barter Rice for Oil with Iran

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posted on Oct, 27 2008 @ 04:01 AM
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Thailand Considering to Barter Rice for Oil with Iran


uk.reuters.com

BANGKOK (Reuters) - Thailand, the world's biggest rice exporter, plans to barter rice for oil from Iran, its commerce minister said on Monday.

Iran is one of Thailand's major rice buyers. It buys around 1 million tonnes of rice annually, of which around 600,000 tonnes generally comes from Thailand.

However, it has bought only 60,000 tonnes of Thai rice so far this year, staying on the sidelines during the first half of 2008 when Thai rice surged to a record high of $1,080 per tonne.
(visit the link for the full news article)




posted on Oct, 27 2008 @ 04:01 AM
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Apart from Thailand, also Vietnam considers to start trading rice for oil with Iran. Iran could be interested since it would hurt the US economy (particularly if more countries start doing so) while they can make a good deal simultaneously. Prices of food in Iran are ridiculously high, this could perhaps help changing that.



uk.reuters.com
(visit the link for the full news article)



posted on Oct, 27 2008 @ 04:43 AM
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Well isn't that cool. The good ole barter system making a comeback?
Seems like a good idea to me and indeed, in some cases, it may be more beneficial to both parties in lieu of a monetary exchange.



posted on Oct, 27 2008 @ 04:58 AM
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Could this be the begining of a new world economy? This one will be interesting to keep a tabs on, it has potential...



posted on Oct, 27 2008 @ 04:58 AM
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reply to post by Mdv2
 


I knew there was a reason why rice was going high back 5 months ago!!! Rumor has it that they couldn't have enough to keep in reserve and had to stop selling as much as they did....

I think this was the real reason...

hmmmm.....but I doubt that this barter will happen given the current US$ crisis and OPEC still trading in only US$.. which is imo, still unconfirmed as other sources are saying that OPEC is beging to start their own currency.



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