Government to buy rubber at B45 a kg
The government will buy raw rubber sheets from the current crop directly from planters at 45 baht a kilogramme.
Eight ministries agreed to buy 100,000 tonnes of rubbers for use in their existing projects as the government saw it as the quickest way to help farmers without putting pressure on the central budget
As recommended by the Budget Bureau, the Rubber Fund, whose money comes from the cess duty collected from rubber exporters, will advance the money for farmers on behalf of these ministries, which will pay it back after they disburse the budgets for the projects.
Prawit Wongsuwon, deputy prime minister who chaired a rubber problem-solving committee, said if the fund could not meet the demand, loans will also be extended by the Bank for Agriculture and Agricultural and Agricultural Cooperatives.
The Public Warehouse Organisation (PWO), the National Council for Peace and Order and the Rubber Authority of Thailand will act as the buyers for these ministries, he said.
The PWO estimated it would buy 100,000 tonnes of all types of rubber. The condition is that the output must come from the current crop ending in three months.
The products will not be kept in warehouses since the Agriculture and Agricultural Cooperatives Ministry will coordinate efforts to process and use it as much as possible.
"All sides agreed on the 45-baht price. For latex and cup lump, the prices will be lower.