Thai Government Is Seeking Capital Aid for Rubber Farmers

The Agriculture and Cooperatives Ministry of Thailand plans to seek a budget of over 10 billion THB to help rubber farmers and tappers to deal with the declining NR prices. “We intend to compensate them more than we did last year,” Grisada Boonrach, the Minister of Agriculture and Cooperatives Ministry said on November 14, 2018.

Last year, 140,000 rubber farmers and tappers received a subsidiary of THB 1,500/rai (0.16 hectares), no more than 15 rai.

Those who registered with the Thai Rubber Bureau were eligible for financialassistance. Grisada said: "The compensation for each rai or the number of rai eligible for compensation will increase." According to Grisada, private companies will be required to go to designated locations where the cup lumps will be purchased at THB 35/kg, field latex at THB 37/kg, and crude rubber sheets at THB 40/kg.

At present, the purchasing prices of cup lump were in the range of THB 12-14/kg, and those of field latex was between THB 28-31/kg. The prices of crude rubber sheets were between THB 32-35/kg. "Through the rubber development fund, RAT should be able to compensate for the difference in prices." Grisada said, adding that, his department will also be trying to raise the NR prices by boosting the domestic demand.

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