ID :
168668
Wed, 03/16/2011 - 12:11
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http://m.oananews.org//node/168668
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Thailand suspends rubber exports
BANGKOK, March 16 (TNA) - Thai Deputy Prime Minister Suthep Thaugsuban, in his capacity as chairman of the National Rubber Policy Committee, said on Wednesday that he has ordered a suspension of Thailand's rubber exports until declining prices of the product on the domestic market improves.
The prices of Thai rubber have been down from a record high of 187 baht a kilogram to 95 baht now. The decline has been attributed to weak demand from China, a major rubber importer, and a historic disaster in Japan last Friday (Mar 11).
According to the Thai deputy premier, the current prices of rubber on the domestic market remain higher than the Thai government's target, but a suitable rubber price should be about 120 baht a kilogram.
The Thai deputy premier said he believes that the domestic rubber prices will gradually improve, as local traders have now received additional loans from commercial banks to purchase rubber from local plantations. (TNA)
The prices of Thai rubber have been down from a record high of 187 baht a kilogram to 95 baht now. The decline has been attributed to weak demand from China, a major rubber importer, and a historic disaster in Japan last Friday (Mar 11).
According to the Thai deputy premier, the current prices of rubber on the domestic market remain higher than the Thai government's target, but a suitable rubber price should be about 120 baht a kilogram.
The Thai deputy premier said he believes that the domestic rubber prices will gradually improve, as local traders have now received additional loans from commercial banks to purchase rubber from local plantations. (TNA)
