This entry was posted on Tuesday, July 10th, 2012 at 7:30 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.
Thousands of rubber growers are now protesting at the major rubber producing province of Surat Thani–the second such major protest in less than a month. Traders in Thailand say growers are demanding that the government purchase natural rubber at THB120/kg through its price intervention plan, as the REO has been buying below that level. Deputy agriculture minister Natthawut Saikua recently said that the government-linked Rubber Estate Organization will continue to buy rubber above the market rate, with the goal of pushing prices up prices to the target level of THB120/kg. As the major rubber growing region is in the south–traditionally a stronghold of the opposition Democrat Party–some traders suggest that the protests are politically-motivated. Thai raw material USS3 was traded around THB88/kg at the central markets Tuesday.
Source: Dow Jones