According to a report by the Rubber Authority of Thailand on June 24, the Rubber Authority of Thailand (RAOT) has promoted four measures to stabilize rubber prices throughout the country.They work with the private sector to respond to fluctuations in the rubber market and sell rubber on the futures market to maintain market share, build competitiveness, and create added value for downstream products. A total of more than 200,000 tons of excess production rubber threshold ramp has been extracted from the country.
Mr. Nakorn Tarrakwirapat, Director of the Rubber Authority of Thailand, revealed that the COVID-19 epidemic is an important factor affecting the production chain of the global rubber industry and other industries,rubber safety mats for outdoor play areas. In order to support this situation, RAOT issued four measures to guide the price of the rubber market to stabilize and reduce price fluctuations. This is a measure jointly operated by RAOT and operators. These include the "Measures to Increase the Purchase of Rubber by the Farmers Association" and measures to increase the processing of rubber by the Farmers Association. The goal is to purchase and absorb no less than 20,000 tons of latex in 2021. The "Rubber Sales Delay Project" increases the circulating funds to the Rubber Farmers Association through matching funds, with the goal of 50,000 tons of rubber to participate in the project.
Mr. Nakorn went on to say that RAOT cooperates with private operators who are strong in production and futures trading to stabilize rubber prices, which will be an important mechanism to guide prices, setting a target of 35,000 tons per year. At the same time, direct transactions are carried out to end tire users to narrow the price gap, and the goal is to be able to sell at a speed of more than 20,000 tons/year.
RAOT operates in parallel with the above-mentioned projects to support enterprise credit for rubber products manufacturers with a credit line of 25 billion baht. Increase the domestic use of rubber by at least 100,000 tons/year, and promote the use of rubber projects in government agencies. Through the promotion of knowledge and support funds for potential farmer groups and farmer organizations, and by bringing rubber products into various activities of the unit, it can add value to rubber, such as road safety equipment. The Ministry of Transport, the Ministry of Medical Devices and Health, including the rubber pool water collection to solve the drought problem.
According to the policy of the Ministry of Agricultural Cooperatives, by 2021, all measures will be able to extract surplus rubber production up to 200,000 tons/year from the country, which is another factor to keep rubber prices at an appropriate level.
