BANGKOK – The government is finding ways to urgently assist rubber farmers as the Ministry of Industry has held a meeting with businesses in the rubber industry to discuss assistance measures.
Deputy Prime Minister Somkid Jatusripitak affirmed that the Prime Minister has given priority to the matter of tumbling rubber prices. Recently, the Ministry of Agriculture and related agencies were told to come up with solutions in the short-term, while the long-term solution rests with the government’s plan to reform the agriculture sector to create sustainability and add value to products.
Meanwhile, the Ministry of Industry has invited relevant agencies to discuss ways to reduce the effects of the current price slump. Attending the meeting were representatives from the Department of Industrial Works, the Department of Industrial Promotion and the private sector such as industrial associations on the production of rubber gloves, automobile tires, rubber products and latex. They discussed ways to help rubber growers, buyers, exporters and manufacturers.
According to the meeting’s assessment of the situation, the slump in rubber prices are caused by the economic slowdown in China, the oil prices slump, and an oversupply of rubber in the country.
