Monthly Rubber Situation in Thailand - August 2014

Currently, with 10 year low rubber price, rubber growers are facing hardship throughout the country. RSS3 price now stays at 50-52 Baht/kg, which brings about daily revenue of 200-300 Baht for small holders from 2,000-3,000 Baht earlier. With the prolonged rubber price situation, latest news said that a rubber grower in Thungsao District of Natkorn Si Thammarat committed a suicide on 28th August 2014. While many have left the plantation untapped and switched to other agriculture activities due to income being unbalanced with expenses.

On the government front, the cabinet approved a budget of 6 billion Baht for a systematic project on falling rubber price solution, divided into 3 items:

1. 350 million Baht for price boosting measure for liquidity of farmers and agricultural groups
2. 1.08825 billion Baht for value-addition and quality measure
3. 4.5 billion Baht for low interest loan for rubber product manufacturers

While 977.75 million Baht is to be spent for a prioritized project which is expected to succeed within 2014.