This entry was posted on Tuesday, August 28th, 2012 at 5:21 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.
BANGKOK, Aug 28 (Reuters) – The Thai government has turned down a plan to spend another 15 billion baht ($480 million) on rubber intervention but will review the situation to see whether further buying is necessary to support prices, its deputy agriculture minister said on Tuesday.
“We still have 2 billion baht from the previous 15 billion baht budget left. We will spend what we have left first. Then, an ad hoc rubber committee will consider what we should do next as the situation may change,” Nattawut Saikuar told reporters.
Nattawut, who had announced the plan to beef up the buying scheme on Aug. 21, was speaking after a cabinet meeting.
($1 = 31.2350 Thai baht)
Source: Reuters