Ministry comes up with new strategy to lift Thai rubber sector
The Agriculture and Cooperatives Ministry on Sunday released guidelines and strategies for the Thai rubber sector to penetrate the global market.
Alongkorn Ponlaboot, an adviser to the ministry, said the six guidelines and seven strategies have been devised to develop products, boost farmers’ income and open more trading channels.
He added that the strategies also cover income guarantees, application of new market mechanisms and projects, such as online auctions, rubber futures exchange market and the Rubber Valley project.
“We are making changes in the rubber industry to meet market demands amid the Covid-19 crisis and to generate income for the 1.83 million rubber farmers nationwide,” he said.
He added that Asia was the world’s biggest rubber supplier, while Thailand is the largest rubber manufacturer in the region.
“Thailand is still the largest exporter of concentrated rubber latex and smoked rubber sheets in the world,” he said.
Alongkorn said he expects Thailand’s rubber production and exports to grow further as the country can produce 92-per-cent fresh rubber latex and hold almost 70 per cent of the global market share. He also pointed out that there is a rising demand for medical rubber products like gloves due to the Covid-19 crisis.
“Thailand has the opportunity to penetrate another 100 countries in addition to Malaysia, China and South Korea, which are the largest importers of Thai rubber,” he added.