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Thursday, October 21, 2021

Thailand Plans 30b Baht of Rubber Industry Funding, Govt Says

* Thailand plans to spend 30b baht to support rubber industry, aiming to boost prices and reduce supply, Deputy Prime Minister Kittiratt Na-Ranong says.

* Govt to spend 15b baht to provide low-interest loans to producers of rubber products who want to buy new machinery or improve productivity.

* Govt to spend 10b baht to subsidize production costs for farmers nationwide; 5b baht to provide low-interest loans for farmer groups to process rubber.

* Govt to encourage farmers to cut down aging rubber trees and those who switch to palm trees will receive incentives.

* Govt has no plan to sell rubber in state inventories.

* Govt to encourage farmers to delay tapping to cut supply.

* We agree to work together to bring up rubber prices and if necessary, the government has a budget to shore up the prices, Kittiratt says.

Source: Bloomberg

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