BANGKOK – The Natural Rubber Policy Committee has resolved to extend a 10-billion-baht loan program for another year in the hope of stabilizing the rubber industry.
The Natural Rubber Policy Committee meeting, chaired by Prime Minister Gen Prayut Chan-o-cha, has agreed to give rubber farmers coping with a price slump, another year to enroll in a loan program in a bid to help them get back on their feet.
The committee also approved a 30-day extension of the “Rubber Stability” project which has already assisted more than 500,000 rubber producing families. Another 11,000 families are still in need of assistance.
During the meeting, the prime minister instructed the committee to raise domestic demand for natural rubber and decrease the export volume in order to stabilize the market. Gen Prayut expects the country to consume 1.2 million tons of rubber on a yearly basis.