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)
