Thailand to implement 10-year rubber industrial development plan

BANGKOK, August 27 (TNA) - The Thai army-led National Council for Peace and Order (NCPO) has approved the country's overall rubber industrial development plan over the next decade, as proposed by the Natural Rubber Policy Committee. NCPO Deputy Spokesman Colonel Winthai Suvaree told journalists on Wednesday that the plan was approved on August 26 at an NCPO meeting in Bangkok, chaired by Thai Army and NCPO Chief General Prayuth Chan-ocha, who is also the newly-appointed Thai prime minister. Colonel Winthai said that Tuesday's NCPO meeting also approved a state budget of 5.9 billion baht to fund the 10-year plan. The NCPO deputy spokesman revealed that the plan is aimed to end excessive rubber stocks in the country, increase the liquidity of local rubber growers and support integrated rubber research projects. According to the deputy spokesman, the NCPO is trying to boost rubber prices to an appropriate level by carefully releasing rubber stocks and calling on cooperation from all concerned parties to guarantee fair returns for local rubber growers. Meanwhile, Duangkamol Jiambutr, Deputy Director-General of the Ministry of Commerce's Department of International Trade Promotion, acknowledged that a drop in exports of Thai farm products, especially rubber by 23.4 per cent year-on-year, during the first seven months of this year had caused, among other factors, a 0.42 per cent decline of the total value of Thai exports during January-July 2014, with the value standing at 131 billion US dollars, resulting in the country's trade deficit of 865 million US dollars during the seven-month period. The Ministry of Commerce also predicted that the value of Thai exports should rise by 3.5 per cent in 2015 on a condition that the total value of Thai exports reaches at least 20.6 billion US dollars monthly during the rest of this year. (TNA)