Thai government rubber stocks have doubled to 200,000 tonnes according to the deputy agriculture minister.
The rubber stocks have increased after the government has approved to buy 30 billion baht worth of rubber to help the local farmers that have been affected by the declining prices of rubber in the market.
Deputy Agriculture Minister Nattawut Saikuar said that they will be urging domestic industries to make use of more rubber to consume more rubber from the local market to help in cutting the export and increasing the prices of the commodity used to make tyres, gloves and others.
This is to support the agreement of the members of the International Tripartite Rubber Council which Thailand is a member, including Indonesia and Malaysia. (RJA)