Thailand's rubber product exports are expected to fetch 359 billion baht (11.35 billion USD) in 2020, 3.19 percent higher than last year, according to Thai Commerce Minister Jurin Laksanawisit.
Thailand will cut rubber exports by 126,240 tonnes next week for four months after a delay to implement a supply cut agreement with other regional producers, the Rubber Authority of Thailand said on May 16.
The Thai Cabinet recently approved an aid package worth 18.6 billion baht (551 million USD) to help the country’s rubber sector currently affected by falling prices.
The Thai government plans to issue bonds to raise 30 billion THB (961.8 million USD) for a project aimed at cutting the country’s rubber oversupply, according to a Thai agricultural official.
The cabinet of Thailand has decided to allocate 1.8 billion THB (54 million USD) from the central fund to promote the use of rubber by various government bodies.
Thailand, Indonesia and Malaysia have agreed to cut exports of natural rubber by 615,000 tonnes for six months from March to reduce supplies and increase prices that are trading near six-year lows.
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