The Cabinet has approved the second phase of income-guarantee subsidy scheme for rubber planters, with a budget of 10.04 billion baht.
The project, which won approval at the Cabinet retreat in Phuket on 3 November 2020, aims to increase income for rubber growers and strengthen the rubber industry amidst the spread of COVID-19.
More than 1.8 million rubber planters will benefit from the project, covering over 18 million rai (7.2 million acres) of rubber plantations. In this scheme, the guaranteed price for rubber sheets of good quality is at 60 baht a kilogram, that of latex at 57 baht a kilogram, and that of cup lumps at 23 baht a kilogram.
Rubber planters joining the scheme must register with the Rubber Authority of Thailand. The project will cover plantations that are at least seven years old. It is scheduled for September 2020-September 2021.
At the same meeting, the Cabinet also approved other projects to help stabilize rubber prices in the long run by providing financial support for entrepreneurs engaged in rubber-related industries.
These projects involve credit extension, the extension of the debt repayment period, and more activities to offer a revolving fund to help rubber entrepreneurs during the spread of the COVID-19 pandemic.
Source: The Government Public Relations Department