Rubber producing countries to solve falling rubber prices

BANGKOK, June 14 (TNA) – The Rubber Authority of Thailand (ROAT) governor will attend an international rubber consortium to discuss measures to handle a rubber price slump. Thai Agriculture Minister, Gen Chatchai Sarikulya said he assigned the ROAT governor to attend the meeting in Indonesia on June 17-18, in which the grouping of rubber producers, including Thailand, Indonesia and Malaysia is scheduled to discuss coordinated rubber production and export cuts to combat the plunging rubber prices. The Cabinet on Tuesday approved four assistance measures to help rubber farmers, including extension of the loan program for the farmers’ institute and provision of loans for latex processing businesses. Gen Chatchalerm Chalermsuk, the RAOT president said the authority has put in place six comprehensive measures to solve the declining rubber prices, covering the whole system including producing, marketing and rubber processing. The RAOT has mapped out a plan to upgrade the standard of rubber production by local farmers to ensure their compliance with Good Manufacturing Practice (GMP) to promote exports of rubber and rubber products to European markets . (TNA)