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D-day rubber insurance program Indicates that the price increases, reduce the difference to pay compensation. Afterwards, the price of rubber in foreign countries began to move steadily. BAAC prepares to draft a board to approve the rubber growers income insurance, Phase 2 on November 26
During the past week, the price of fresh latex and sheet rubber kept moving at 47-57 baht / kg, with the latest latex from the factory (Nov 13, 2020) at the 50 baht / kg price level, which Still below the average price in October all month
Looking at the price of Class 3 smoked rubber sheet today at 66.76 baht / kg, the price has moved close to the first week of November, while the FOB RSS3 (Bangkok) price has moved to 70.30 baht. Too
Mr. Kampanat Wongchuwan, Farm Manager, Than Nam Thip Plantation The Rubber Processing Exporters Institute, a major southern exporter, said that rubber prices have now risen in all futures markets, including China, Japan and Singapore, with smoked rubber above 63 baht / kg, especially in the futures market. Until today (November 12, 20) at 590-600 yuan / ton from 13,000 yuan / ton, around 13,590-13,600 yuan / ton, but it seems that domestic prices for “fresh latex” have not moved as they should. Fresh latex is 45-46 baht / kg, while smoked rubber is 63 baht / kg, there will be a difference of 17-18 baht / kg.
By the process of making smoked rubber from fresh latex into raw rubber sheets And in the end it is smoked rubber The maximum handling fee is not more than 6 baht / kg and there is still a profit of about 12 baht / kg, for what the income insurance of the rubber seeders for the second phase from October 2020 – March 31, 2021 for a period of 6 months throughout the project.
“The government may not have to pay compensation. Because now rubber prices in foreign countries have started to move steadily
Values Dr. Uthai Sorn The Natural Rubber Policy Committee (September) and the chairman of the Thailand Rubber Planters Federation said the goal of the government rubber planters income insurance project is 10,042 million baht , with raw rubber sheets 60 baht / kg, fresh latex 57 baht / kg, rubber. The 46 baht / kg bucket of cup, money will begin to be issued around December 2020, with payments dating back to October 1, 2020 and paid through March 31, 2021.
With higher rubber prices As a result, the compensation for “difference” is narrower, so the government has set a target of 10,042 million baht or less. The first phase of the rubber insurance program, lasting about 6 months, is about 28,000 million baht, causing the compensation to be reduced more than 1 times and the rubber trend still has good prices
Mr. Mint Ngernruang, Deputy Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC), said the Bank is prepared to propose to BAAC’s Board of Directors to approve the second phase of the rubber growers income insurance program. This November 26, 3 business days later when BAAC received a list of rubber producers (1.8 million) registered with the Rubber Authority of Thailand (RAOT) willing to pay compensation immediately.
“In fiscal year 2021, the government has established a budget to pay compensation for the cost of money to offset in BAAC already has 200 million baht, and in 2020, the cost of BAAC has paid 250 million baht.”
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