The Thai Rubber Policy Committee approved the purchase and storage of up to 30 billion baht (966.6 million U.S. dollars), and plans to purchase 300,000 tons of rubber from rubber farmers at a price higher than the market price.
In addition, the Thai government will also provide a low-interest loan of 15 billion baht to Thai exporters through state-owned banks to help them reduce their exports.
The above measures will be implemented from October 1st to March 31st next year. The plan is to boost the USS price to 100é“¢/kg and the RSS to boost the 104é“¢/kg level.
Rubber prices have rebounded from the low of three years by more than 16% since the announcement on August 14 that the three countries will implement price support measures.
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