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 (Photo: thainews.prd.go.th)
 
Bangkok (VNA) – 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. 

An estimate of 1.4 million people will benefit from the package, including a million of rubber plantation owners and tappers.

Under the aid package, the Thai government will give a handout of 1,800 baht for each rai (equivalent to 1,600sq.m.) of rubber plantation but not exceeding 15 rai for each plantation owner.  

The list of eligible recipients of the handouts will be compiled by the Rubber Authority of Thailand. 

Meanwhile, five leading rubber exporters of Thailand agreed to cooperate with the government to help plantation owners. The authority also pledged to provide a subsidy scheme of 2 baht per kg for exporters.

Other measures currently under consideration include the organisation of refresher courses for workers in farms with low productivity. Interior furniture and tyres manufacturers also agreed to purchase rubber directly from the farms. 

Thailand ranks among the world's biggest rubber producers, together with Indonesia and Malaysia. The country produces about 4.6 million tonnes of rubber each year, while exporting 4 million tonnes. -VNA