Thai Government To Buy Rubber, But Below Price Farmers Want

 

14 January 2016, 07:26 SEAST

By Patpicha Tanakasempipat and Pracha Hariraksapitak

 

Thailand’s government said on Thursday it will buy 100,000 tonnes of rubber to help support farmers hurt by a price slump to near seven-year lows, although it set an offer price well below the level demanded by the politically powerful group.

 

Farmers in the world’s biggest rubber producer and exporter have demanded a guaranteed price of 60 baht ($1.65) per kilogram from the government, after a slowdown in top consumer China pushed the price of unsmoked rubber sheet (USS3) to around 35 baht.

 

The government set a price of 45 baht for USS3 and said it would initially buy 100,000 tonnes, including smoked rubber sheets and latex, and could buy more if needed�

 

Source: Reuters by Patpicha Tanakasempipat and Pracha Hariraksapitak

Full Content: http://news.trust.org//item/20160114072838-bbix9