There is clear and present danger that another global food price crisis will
arise in the future. This is based on the result of the Ministerial meeting
of the World Trade Organization (WTO) in Bali in December 2013. It was shown
that several WTO member countries have refocused on internal domestic
politics, compromising the long-term benefits shared across nations, in
favor of short-term gains. Since rice is a staple to many ASEAN countries,
it is vital the durable regional agreements would be implemented on rice
production and supply to maintain food security in the region. Multilateral
cooperation is crucial in order to curb volatility in rice and food prices.

According to Dr. Bruce Tolentino of International Rice Research Institute
(IRRI), the governments of ASEAN member countries must share information on
cross-country stocks and prospects that enable rational, moderate, and
longer-term assessments of supplies and prices. Such dialogue will highlight
international understanding and assurances that rice exporting and importing
countries have shared interest in stable, if higher, rice prices.

[www.isaaa.org] [irri.org]