Bangkok: The Governor of the Rubber Authority of Thailand (RAOT) has announced the preparation of the 'Rubber Slowdown Project' aimed at stabilizing rubber prices by delaying the sale of rubber products until market conditions are favorable. The project is designed to ensure that farmers receive an average return of 6.10 baht per kilogram, enhancing their financial stability. According to Thai News Agency, Mr. Sukthat Tangwiriyakul, Acting Governor of RAOT, emphasized the need to fast-track the rubber slowdown project due to volatile price conditions and the ongoing rainy season in the southern region. The initiative involves collecting rubber during periods of low supply to boost prices. An 800 million baht budget has been approved for this purpose, which will be distributed across all RAOT regions. The project covers fresh latex, cup lump rubber, and smoked rubber sheets, and aims to improve returns for participating farmers, resulting in an estimated total gain of 248.17 million baht for fiscal year 2024. RAOT has engaged with regional and provincial executives to ensure understanding and collaboration among rubber farmer institutions. Efforts include surveying the readiness of tools and facilities necessary for extending the shelf life and maintaining the quality of stored rubber. This includes arranging collection areas, storage warehouses, and humidity control rooms, as well as ensuring the readiness of processing plants supported by RAOT. These facilities will purchase rubber from participating farmers to be sold when prices are optimal. The project is expected to mitigate market volatility and provide financial liquidity to farmers while they await favorable pricing conditions. Should more farmers wish to participate, RAOT is prepared to seek additional budget approvals to expand the project.
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