State ups efforts to protect rubber prices
Despite rising rubber prices, the government remains committed to managing production volumes, strengthening market systems and maintaining the quality standards of Thai rubber to ensure its long-term competitiveness and ability to meet global demand.
The Thai government is intensifying its efforts to safeguard rubber prices amid soaring market values. Deputy government spokeswoman Patdarasm Thongsaluaykorn stated that the Rubber Authority of Thailand (RAOT) is promoting the use of standardized rubber-coagulating agents and discouraging the use of harmful chemicals or adulterants to maintain product quality.
The authority is also keeping a close eye on global rubber demand, production volumes, and market trends. These measures are part of the government's sustainability policy aimed at enhancing the rubber industry's efficiency and ensuring farmers benefit from market opportunities. Global rubber prices have surged to their highest level in a decade, driven by a shortage of supply.
RAOT forecasts anticipate these elevated prices to persist in the fourth quarter, with further increases at specific periods. The government, in collaboration with RAOT, is focusing on managing production, stabilizing markets, preventing unauthorized rubber from entering the market, and improving Thai rubber's quality. The Smart CESS system, incorporating GPS technology, is set to be introduced in fiscal 2027 to track rubber shipments and enforce export levy collection, ensuring higher transparency and accountability.
Written by urgent.news from Bangkok Post Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
