Price, demand for Thai natural rubber on the rise

BANGKOK, December 17 (TNA) - The Rubber Authority of Thailand (RAOT) reports that the price of ribbed smoked sheets from locally-grown natural rubber has been on the rise over the past few weeks, thanks to the higher market demand. RAOT Deputy Governor Nakorn Tangavirapat told journalists of the update on December 16, saying that the price of the ribbed smoked sheets on the domestic market has increased from 44.70 baht per kilogram to 46.70 baht per kilogram over the past two weeks. Nakorn expressed his appreciation to the rising demand for the Thai natural rubber, to about 1.71 million kilograms totally lately, by tyre manufacturing firms in the country, in particular, that have joined the Thai government's tax break program and have purchased more locally-grown natural rubber from RAOT and institutions which have been formed by individual Thai natural rubber growers and have worked on behalf of them. "The Thai government's tax break program has not only boosted the demand for logally-grown natural rubber, but has also encouraged the local natural rubber institutions to further improve the quality of natural rubber produce of their individual members to meet the Good Manufacturing Practices (GMP) international standard and there are now about 20 local natural rubber cooperatives whose produce has met the GMP standard", the RAOT deputy governor acknowledged. According to the RAOT deputy chief, world-classed manufactuers of aircraft tyres that have relocated their plants to Thailand have now also expressed their interest in purchasing the GMP-standard natural rubber, certified by RAOT, from the Thai natural rubber cooperatives. Meanwhile, Thai Agriculture and Cooperatives Minister Grisada Boonrach has asked the Thai Ministry of Interior to seek cooperation from provincial governors nationwide to conduct an updated survey on the latest demand for natural rubber to be used for the construction of provincial and community streets in the their respective areas in order to boost more purchase orders of locally-grown natural rubber, with the result expected over the next couple of weeks. (TNA)