On Friday, 16 May 2014, the Thai rubber farmers have filed a legal suit to the Administrative Courtto force the Government to suspend sales of its 200,000 NR stockpiles to prevent further fall of natural rubber price.
The release of the above said stockpiles seems unlikely at this junction as the Caretaker Government does not have the authority to approve the decision. In addition to that, the current situation of political uncertainty inThailand has encouraged rubber farmers mainly from the South to join a mega demonstration inBangkok this week to wrap up all demonstrations.
As a result, the supply of natural rubber from Thailand is expected to slow down as rubber farmers are abandoning and delaying their tapping activities due to current unattractive low price and to participate in the mega demonstration inBangkok.
Yium Tavarolit
Chief Executive Officer
19 May 2014
Source: IRCo
