A cartel to control the price of rice on the world market just like OPEC with oil; what a marvelous idea. Not. The idea was being pushed by Thailand who tried to get Vietnam, Cambodia, Myanmar and Laos to sign up.

"We don't aspire to be like OPEC, but we hope to be just a group of five to help each other in trading rice on the world market," Thailand prime minister Samak Sundaravej was quoted saying.

It goes without saying that if Thailand is successful with forming this OREC, or Organization of the Rice Exporting Countries, rice prices can only go up.

Luckily, that idea was scrapped. Instead, Thailand will try to create "a forum on ways to increase supplies and yields."

Photo credit: Oregan State University