By Linda Khoo
BANGKOK, Nov 4 (Bernama) — Thailand’s cabinet Tuesday approved 10.04 billion baht (RM1.34 billion) in subsidies for rubber planters to compensate for losses incurred amid the COVID-19 pandemic.
Deputy government spokesperson Ratchada Thanadirek said the income-guarantee subsidy scheme seeks to ensure 1.8 million rubber growers had a stable income until next September.
“The scheme is aimed at increasing rubber growers’ income which is hit by the COVID-19 pandemic,” she said at a press conference in Phuket, where Prime Minister Prayuth Chan o-cha had earlier chaired a mobile cabinet meeting.
Under the subsidy scheme, she said, the guaranteed price of raw rubber sheets is 60 baht per kg, latex at 57 baht per kg, and cuplumps at 23 baht per kg.
Ratchada said rubber growers must register with the Rubber Authority of Thailand to participate in the scheme.
Thailand is the world’s top producer and exporter of natural rubber, accounting for up to 40 per cent of the global rubber supply.
— NNN-BERNAMA