The Rubber Authority of Thailand is looking to boost local consumption of rubber products by 10% per year through developing sales innovations to create value added rubber products.
Leading the opening of the “RAOT on The Move” event, Gen. Chatchalerm Chalermsuk, the president of the Rubber Authority of Thailand, said the rubber industry had been hard hit by the price slump during the past month, but was optimistic that rubber prices will rebound in the next 30 to 60 days according to the market mechanism.
The Rubber Authority has sought cooperation from five major traders to set up a 1.2-billion Baht fund for purchasing rubber and latex from the producers beginning next week as part of the efforts to assist rubber farmers.