Thailand is trying to clear the last 150,000 tons of rubber stocks

The Thai Rubber Authority said it would complete a total of 310,000 tons of inventory clean-up by the end of the stocking schedule in May, with about 150,000 tons of stock worth about 14 billion baht.
Thai Rubber Authority Secretary Tieta revealed that in accordance with the government to develop the rubber to the stock plan at the beginning of the year, the Council needs to be completed in May this year, a total of 310,000 tons of inventory of rubber clean-up work. And as of now has been successfully sold value of 14.447 billion baht, a total of 150,000 tons of inventory, the average price of 64-73 baht per kilogram.
He said that in any case, if the required time to successfully remove the 150,000 tons of inventory rubber, it must be in the 31st of this month’s last public bid to find buyers. Has received from 15 companies purchase intention.
The government has invested about 28 billion baht in stabilizing the domestic rubber price plan, and the current cost of recovering 150,000 tons of stock of rubber is about 14.347 billion baht. So the final inventory plan will be able to recover the investment, but also need to assess the final public auction results.
He said that the time left to the plan was not much, and if the final plan could not be completed within the prescribed time, the council would apply for a new delay plan to clear the storage for the new round of tapping season. The effect of price. When the new listing of rubber prices will be able to more truly reflect the market price. At present the domestic rubber offer range of 63-73 baht per kilogram.