Govt not to intervene in rubber prices

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BANGKOK, 30 Oct 2013,The Government will not change its rubber farmer assistance measures by intervening to back up rubber prices. 

According to Mr. Yukol Limlaemthong, Agricultural and Cooperative Minister, if the Government acceded to the rubber farmer demonstrators’ demand by intervening to set a floor price of rubber at 100 baht per kilogram, it would distort the market mechanism.

He added that his ministry is currently working around the clock to expedite the process of paying farmers 2520 per rai of their rubber plantations as agreed earlier. 23,600 rubber farmers have been paid so far, and 500,000 more are in the process, said the Minister, adding that the ministry would push for the scheme completion by the end of November instead of in March 2014 as earlier targeted .

Meanwhile, Deputy Prime Minister’s Secretary Suphon Atthawong said that it was impossible for the government to agree to rubber farmers’ demand that it set a floor price of rubber at 100 baht per kilogram, adding that the entire gathering was suspiciously timely coincidental with the rally led by Suriyasai Katasila in the capital.

The problem would unlikely be solved if the gathering was politically motivated, added Suphon.