This entry was posted on Wednesday, January 11th, 2012 at 5:06 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
Thailand’s government could buy up to 200,000 tonnes of unsmoked rubber to push the price up to 120 baht ($3.79) per kg after protests from farmers over low prices, an adviser to the Thailand Farmers Association said on Wednesday.
Uthai Sonlaksap said the minister of agriculture and farmers groups had reached a tenative agreement on the intervention scheme late on Tuesday. The plan has to be ratified by the National Rubber Committee on Jan. 17 and will then need to be approved by the cabinet on Jan. 24, he said.
Unsmoked rubber sheet (USS3) has been trading at around 93 or 94 baht this week. ($1 = 31.6650 Thai baht)
Source: Reuters