Thai government props up rubber prices

BANGKOK, November 23 (TNA) - The Thai government, through the Ministry of Agriculture and Cooperatives and other relevant agencies, is proping up natural rubber prices by 5 baht per kilogram to boost income of local rubber growers. Agriculture and Cooperatives Minister Kritsada Boonrach told journalists on Friday that his ministry's Rubber Authority of Thailand (RAOT) is seeking cooperation from the Royal Irrigation Department, also under his ministry, and the Ministry of Defence, to additionally purchase about 170,000 tons of natural rubber totally for their construction of irrigation and military-supported local road, bridge and wells, aimed to raise the domestic rubber prices by about 5 baht per kilogram. The minister said that the RAOT move followed a recent approval of a new regulation on standard quoted prices of natural rubber-mixed construction materials for contractors by the Ministry of Finance's Comptroller General Department. The minister stated that his ministry is also considering an appropriate price subsidy plan for ribbed smoked sheet rubber, as proposed by local rubber produders, with a conclusion expected shortly. (TNA)