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Thai Finance Ministry seeking 25B baht to help rubber industry

Finance Min seeking 25 billion baht to help rubber industry

BANGKOK, 26 August 2013 The Finance Ministry is seeking a budget of 25 billion baht to help rubber farmers cope with decreasing prices of rubber in the world market, while expressing its keen interest in promoting the agricultural zoning idea nationwide, with a goal to find an ultimate solution to all problems in the agricultural industry.

Finance Minister Kittiratt Na-Ranong admitted that the current price drop in rubber products was caused by the global economic slump which has cut demand for rubber, leading to the plunge in rubber prices. Additionally, the fluctuation of the Thai currency has also been had huge influence on the prices. The Minister, however, said the government has been placing its emphasis on the issue.

To assist the farmers, the minister said he will be seeking the cabinet’s approval for a budget of 25 billion baht to help them cope with the decreasing price. However, the matter will have to be discussed first before being forwarded to the cabinet.

He also said the government is keen on promoting an agricultural zoning system in all regions in the country, as it will provide answers to all problems in the agricultural industry.

Agricultural zoning is a method of preventing farmland and farming activities from incompatible non-farm uses, meaning all farming will be based on weather, soil, size of land, type of land, irrigation system, and transport routes in the area.

Source: NNT

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