Thailand's Three Phases Of Subsidies Paid To Rubber Farmers Totaled Over 6 Billion Baht

- Feb 01, 2021-

The Rubber Authority of Thailand (RAOT) disclosed on January 26 the amount of income insured subsidies provided to rubber farmers for the three periods, and the payment amount exceeded 6 billion baht. Rubber farmers will receive the third subsidy from January 29.

   The governor of the bureau, Nakon Phakwirapat, revealed that the second phase of the rubber price-insurance plan has been paid to rubber farmers from December 11, 2020. As of now, 1,156,813 rubber farmers have received subsidies, totaling 3,985.13 million baht. The third phase of the subsidy standard is as follows: the average price of high-quality raw film is 57.85 baht/kg, and the subsidy is 2.15 baht/kg; the price of fresh latex is 48.78 baht/kg, and the subsidy is 8.22 baht/kg; the price of cup glue (DRC 50%) The subsidy is 19.19 baht/kg, and the subsidy is 3.01 baht/kg. The subsidy will be paid to the rubber farmers’ account from January 29, and a total of 2,362.69 million baht will be paid to 1,561,354 rubber farmers. To sum up, the three phases of subsidies paid a total of 6,347.82 million baht.

   Phakwirapat added that in the past month, rubber growers were able to harvest more rubber after the rain, producing a lot of output on the market. Before the cut-off period, production will be reduced. The price of rubber will tend to decrease according to market conditions. The main buyer, China, will delay receiving goods. China is approaching the long Lunar New Year holiday and will not accept goods during this period. The new crown epidemic has caused the United States and European countries to accumulate a large number of containers, resulting in a prominent problem of lack of shipping containers, and also making it an obstacle to exports. However, the demand for latex in domestic and foreign markets is still high, and the development of the epidemic has prompted the rapid development of the rubber glove industry. China has issued many auto stimulus policies, which will cause rubber prices to remain stable in this direction for a period of time from now on, but they will definitely be on an upward trend from now on.

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