ID :
159712
Wed, 02/09/2011 - 12:55
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Shortlink :
http://m.oananews.org//node/159712
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Thailand expects rubber prices to remain high for 10 years
BANGKOK, Feb 9 (TNA) - Thai Agriculture and Cooperatives Ministry has forecast that rubber prices on the world market will remain high over the next ten years in line with global demand for rubber--beneficial to rubber growers, including those in Thailand.
Thai Deputy Agriculture and Cooperatives Minister Supachai Phosu made the projection Wednesday (Feb 9), pointing out that world rubber prices have been rising over the past five years due partly to a drop in rubber supply in Thailand's southern region caused by both drought and floods; while world demand for rubber, particularly in the immense Indian and Chinese economies, has been growing.
Supachai acknowledged that speculations for profit takings by investors on future commodity exchanges and global oil price hikes will also contribute to the anticipated high level of world rubber prices over the next decade.
The Thai deputy agriculture and cooperatives minister suggested local plantations not to tap their rubber off-season to secure their long-term produce and to prevent any adverse effect. (TNA)
Thai Deputy Agriculture and Cooperatives Minister Supachai Phosu made the projection Wednesday (Feb 9), pointing out that world rubber prices have been rising over the past five years due partly to a drop in rubber supply in Thailand's southern region caused by both drought and floods; while world demand for rubber, particularly in the immense Indian and Chinese economies, has been growing.
Supachai acknowledged that speculations for profit takings by investors on future commodity exchanges and global oil price hikes will also contribute to the anticipated high level of world rubber prices over the next decade.
The Thai deputy agriculture and cooperatives minister suggested local plantations not to tap their rubber off-season to secure their long-term produce and to prevent any adverse effect. (TNA)
