InfoQuest, (May 30, 2019) -- The price of rubber rose to 50 baht/kilogram in May 2019 from 40 baht/kilogram in October last year, according to Mr. Yiam Tharoroit, acting director general of the Rubber Authority of Thailand (RAT). This price rise is a result of stimulus measures. The RAT has implemented a program to support rubber farmers by providing subsidies of 1,800 baht per rai (0.0016 square kilometers). A total of 820,862 rubber farmers were involved in the program, with a total area of 7,838,839.96 rais (12542.14 square kilometers). The subsidies that have already paid through the Bank for Agriculture and Agricultural Cooperatives (BAAC) topped 12,856,858,512.52 baht, covering 747,852 rubber plantation owners, renters and planters and 89,022 rubber tapping workers. It means 91.11 percent of the total have been completed. And the remaining 8.89 percent is under review. The major reason for review is that the information of rubber farmers has changed, such as the cases of wrong name and number, or documentation changes and deviations in database system. The local rubber authorities at the provincial level are committed to completing the work as soon as possible.
This program is just part of short-term measures, aiming to help farmers improve production efficiency and support and assist rubber tapping workers to make their life better.
In addition, the RAT has rolled out medium - and long-term measures to stimulate rubber price to increase. These measures included the efforts to increase the proportion of domestic rubber consumption through such ways as projects to promote its use in government agencies. And the 7,500 km project "one-kilometer rubber roads for every village" is expected to consume about 860,000 tons of concentrated latex, accounting for not less than 20 percent of the total. The RAT also implements preferential policies to encourage enterprises to invest in the Eastern Economic Corridor (EEC), provides financial support for rubber processing enterprises, and reduces rubber planting areas by planting other crops, with a target to replace rubber plantation areas of 400,000 rais (640 square kilometers) per year. Except these efforts, the authority will continue to participate in the rubber auction in the rubber markets of Songkhla, Nakhon Si Thammarat and Surat Thani.
Source: InfoQuest, by Nisarat Wichiensri / Rachada, translated by Xinhua Silk Road
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