27.3 C
New York
Monday, August 15, 2022

Thailand to Start Buying Rubber

THAI RUBBER POLICY COMMITTEE APPROVES PLAN TO STOCKPILE RUBBER

By Supunnabul Suwannakij

 Oct. 16 — National rubber policy committee

approves plan to start buying rubber from Oct. 22, says Deputy Prime Minister Pridiyathorn Devakula.

 * Govt aims to boost prices to at least 60 baht/kg in 1-2 months; when price achieves target, govt may raise target

 price further

 * State-owned Rubber Estate Organization to spend 20b baht in building up stocks; another 10b baht to be allocated to rubber groups to buy rubber sheet

 * Govt to spend 8.5b baht by paying farmers 1,000 baht per rai (6.25 rai = 1 hectare); maxium payable 15,000 baht

 * 6 commercial banks to provide soft loans to operators to buy concentrated latex from farmers

 * NOTE: Biggest Rubber Producers to Avoid Selling Below Current Prices

 * NOTE: Rubber Drops to 1-Week Low as Slowing Growth Seen Curbing Demand

 * * Govt secures contracts to sell rubber from state stockpiles and will deliver monthly: Pridiyathorn

(Bloomberg)

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,291FansLike
12,893FollowersFollow
748FollowersFollow
- Advertisement -

Latest Articles

Popular Articles