The Thai government has only bought 5,000 tonnes of rubber sheet under an intervention scheme that started in early May with the aim of helping farmers, officials said on Friday (June 15).
“We have around 5,000 tonnes in our stocks as the buying process has been quite slow due to the administrative procedures to get the money out to buy from farmers,” said a senior Agriculture Ministry official, who asked not to be named.
The Rubber Estate Organisation (REO), which is in charge of buying the rubber, declined to reveal the exact amount now in stocks to avoid having an impact on prices.
However, the head of the REO, Chanachai Plengsiriwat, conceded: “What we have in stocks is far below the target we were aiming to buy.”
The government has said it would buy 200,000 tonnes of rubber.
(Reuters, June 15, 2012)
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