Economic Cabinet talks rubber price

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BANGKOK, 25 July 2012  – The Economic Cabinet on Wednesday discussed the rubber price situation in an effort to assist rubber farmers affected by the price drop.

Deputy Minister of Agriculture and Cooperatives Natthawut Saikua said after the Economic Cabinet meeting at Government House that the Euro’s lowest value in 12 years and Spain’s increasing economic crisis had caused rubber prices in Thailand and foreign markets to drop by three baht. Mr. Natthawut assured that the ministry would continue with a project to develop farmer institutions in a bid to stabilize rubber price.

The deputy minister added that he had discussed with the governors of 47 provinces with rubber plantations about the project and requested their cooperation. He has also instructed the Department of Agricultural Extension and relevant units to further educate farmers about the project.

According to Mr. Natthawut, joint rubber measures between Malaysia, Indonesia and Thailand are expected to be concluded within this week.