This entry was posted on Wednesday, February 15th, 2012 at 4:45 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.
SINGAPORE (Dow Jones)–The Thai Rubber Estate Organisation may start buying up to 200,000 metric tons of natural rubber soon, the Bangkok Post newspaper reported Wednesday, citing Office of the Rubber Replanting Aid Fund Director-General Wit Pratuckchai.
The organization will be allocated THB10 billion ($324.5 million) for the rubber purchases through a no-interest loan program managed by the Bank for Agriculture and Agricultural Cooperatives, Wit said in the report, adding that a further THB5 billion–part of a price-intervention plan that the Thai government announced last month–will be disbursed to farm groups.
The government plans to push unsmoked sheet 3-grade prices to THB120 a kilogram with the support program. USS3 prices at central markets were around THB112/kg Wednesday.
Agricultural officials expect to wrap up talks about details of the loans with rubber farmers this month, Wit said in the report .
Source: Dow Jones