China to import large lots of Thai rubber products

BANGKOK, November 21 (TNA) - China wants to import mixed rubber products from Thailand up to more than 200,000 tons yearly, with the first lot of 10,000 tons expected to be shipped to the immense Chinese economy by the end of this year. Titus Suksaard, Governor of the Rubber Authority of Thailand (RAOT), told journalists on Tuesday that RAOT signed an organization-to-organization agreement with China's Hainan Rubber Industrial Group, in which the Chinese government holds part of its stake, to deliver the first lot of 10,000 tons of cup lump rubber, ribbed smoked rubber sheets and block rubber to the Chinese firm in the coming weeks. Titus noted that the business-to-business agreement was inked during his last week's visit to China to attend an international assembly of producers and consumers of rubber products in Boao Town in Hainan Province, in which more than 15 organizations participated to discuss the solution to vulnerable rubber prices on the world market through newly-developed rubber products produced from innovative technologies. Besides, China's Hainan Rubber Industrial Group expressed its interest in purchasing, on the yearly-basis, up to more than 200,000 tons of cup lump rubber, ribbed smoked rubber sheets and block rubber RAOT has regularly acquired from local rubber growers and organizations from across Thailand. The RAOT revealed that details of the yearly-deal between his organization and the Chinese firm will be then discussed after the delivery of the first lot of over 10,000 tons rubber products. The RAOT governor said Hainan Province is one of China's largest rubber growing areas that are supported by the Chinese government, but local supply of rubber products remain insufficient to meet domestic demand due mainly to the unfavorable weather condition and the Chinese province needs to import rubber products from foreign markets, including Thailand. (TNA)