Set up fund to help stabilised rubber prices

BANGKOK, July 1 (TNA) -- With prices of rubber dwindling in Thailand and hurting rubber growers, a fund amounting 1.2 billion baht has been set up by five major rubber players and the Rubber Authority of Thailand to assist the growers, said a goverrnment spokesman. Lt Gen Sansern Kaewkamnerd said in helping the rubber growers, the fund will be spent on buying natural rubber in oversea futures market and the central market in Thailand. In an attempt to help stabilised rubber prices in Thailand, one of the major rubber producers in the world, related government agencies will impose strict control on rubber export and stock, said Lt Gen Sansern. Also, a joint investment firm with Indonesia and Malaysia, two other global prominent rubber producers, will be established to issue marketing measures in controlling rubber prices domestically, he said. Rubber prices in Thailand fell considerably in May and June, causing concerns to the government, said Lt Gen Sansern, adding that the government wanted to solve the problem systemically and not by providing government subsidy to the growers just like the practice in the past. Prime Minister Gen Prayut Chan-o-cha wanted rubber growers, politicians and the general public to look forward and join hands in solving the problem instead of letting the government to solve the problem alone, he added. (TNA)