BANGKOK, 15 October 2014 Prime Minister Prayut Chan-o-cha has suggested that higher domestic consumption of para rubber should help stabilize its declining price. Farmers also need to rethink the way they market their products in order to increase their value.
According to the Prime Minister, the government is focusing on increasing the prices of rubber this year. He urged Thailand to increase domestic use of rubber, as the country exports most of it overseas.
His strategy is to seek demand from local tire manufacturers as a primary objective. The rest of the rubber will be exported once the demand from the domestic tire industry has been met. The suitable exporting price will also have to be determined and discussed with rubber traders in ASEAN, Gen. Prayut added.
As for other farm products, the Ministry of Agriculture and Agricultural Cooperatives has been instructed to assist rice farmers in the face of the ongoing drought, said the PM.
General Prayut also encouraged farmers of other crops such as sugarcane and cassava to increase their product values to offset their high cost of production, in order to be able to effectively compete with neighboring nations that offer lower prices for their products