webfact Posted August 30, 2013 Share Posted August 30, 2013 Thailand has no influence on global rubber price: YukolYUPIN HONGTHONGTHE NATIONBANGKOK: -- Although Thailand is a major rubber producer, it has no influence over the global market price as the country has to rely mainly on exports, Agriculture Minister Yukol Limlaemthong said yesterday.He said Thailand produced about 3.6 million tonnes of rubber a year, some 3 million tonnes of which was exported. Because of the global economic recession, the price of the commodity has fallen from a peak of Bt120 a kilogram to Bt70 at present, according to the agriculture minister.Yukol, who is also a deputy prime minister, said the government now had about 200,000 tonnes of rubber in its stockpiles. The Agriculture and Cooperatives Ministry's Rubber Estate Organisation last year bought rubber from farmers at Bt100 a kilogram, with the goal of boosting the market price to Bt120. As at the end of March this year, some Bt20 billion had been spent on a project aimed at shoring up the rubber price - out of Bt45 billion allocated for the project.The minister said the government had been approached by Chinese importers who offered to buy rubber at Bt60 a kilogram, or Bt40 lower than what the government had offered farmers. He said the reason importers offered such a low price was that they were aware that the Thai government still has large quantities of rubber in its stockpile.-- The Nation 2013-08-30 Link to comment Share on other sites More sharing options...
Mosha Posted August 30, 2013 Share Posted August 30, 2013 (edited) That 100 Baht/kg last year was all but unobtainable for ordinary growers. Edited August 30, 2013 by Mosha 1 Link to comment Share on other sites More sharing options...
Popular Post jaidam Posted August 30, 2013 Popular Post Share Posted August 30, 2013 How about if Thailand with-held its rubber from the world market for about 3 years, thus boosting the world's rubber price? The legendary economist that invented Thaksinomics/aka get rich from monopolistic practices would agree with me I'm sure. It worked so well for the Thai rice industry. 7 Link to comment Share on other sites More sharing options...
Popular Post Pond Life Posted August 30, 2013 Popular Post Share Posted August 30, 2013 It has no influence over the world rice price either, but it hasn't stopped them trying. 9 Link to comment Share on other sites More sharing options...
MaxLee Posted August 30, 2013 Share Posted August 30, 2013 (edited) Thailand has no influence on global rubber price: Yukol BANGKOK: -- Although Thailand is a major rubber producer, it has no influence over the global market price as the country has to rely mainly on exports, Agriculture Minister Yukol Limlaemthong said yesterday. He said Thailand produced about 3.6 million tonnes of rubber a year, some 3 million tonnes of which was exported. "Because of the global economic recession, the price of the commodity has fallen from a peak of Bt120 a kilogram to Bt70 at present, according to the agriculture minister." Yukol: Blame it on mother nature, the holy christ and ghe karma, karma, karma: "The nasty nasty Falang world economy, because THEY don't import from us anymore" Edited August 30, 2013 by MaxLee 2 Link to comment Share on other sites More sharing options...
Robby nz Posted August 30, 2013 Share Posted August 30, 2013 Neither it should be noted, has it any influence on the global price of rice. But they did try and what a disaster that has turned out to be. 1 Link to comment Share on other sites More sharing options...
Sing_Sling Posted August 30, 2013 Share Posted August 30, 2013 How about if Thailand with-held its rubber from the world market for about 3 years, thus boosting the world's rubber price? The legendary economist that invented Thaksinomics/aka get rich from monopolistic practices would agree with me I'm sure. It worked so well for the Thai rice industry. That would suit Malaysia and Indonesia down to the ground - their prices would increase and then when Thailand dumps their rubber on the market . . . the prices would collapse leaving Thais shafted twice. Yes, logical thinking. It's a commodity and prices will ebb and flow - the biggest mistake was for rubber plantations to have been replaced with oil palms . . . short-term thinking 1 Link to comment Share on other sites More sharing options...
LuckyLew Posted August 30, 2013 Share Posted August 30, 2013 They have no control over rice prices either ... For some silly reason they thought they did .... but as usual wrong 1 Link to comment Share on other sites More sharing options...
Popular Post dcutman Posted August 30, 2013 Popular Post Share Posted August 30, 2013 Yukol, who is also a deputy prime minister, said the government now had about 200,000 tonnes of rubber in its stockpiles Is this including all the rotten stuff? THAILAND: Minister shocked by massive store of rotting rubberMon Feb 25, 2013 | Deputy Agriculture and Cooperatives Minister Yuthapong Charassat said he was startled to find 10,000 tonnes of rubber left to rot in warehouses in three northeastern provinces under the government's pledging scheme http://polynews.net/en/news/polynews/116950/thailand-minister-shocked-by-massive-store-of-rotting-rubber/2013-02-25 4 Link to comment Share on other sites More sharing options...
tingtong Posted August 30, 2013 Share Posted August 30, 2013 if something, the exchange rate is a little boost for now, especially if the direction held... last yr $/THB rate was lower than this yr's. inflate the THB some more, say, 35THB/$, and all the export would see a boost that needed. Link to comment Share on other sites More sharing options...
somdej Posted August 30, 2013 Share Posted August 30, 2013 Looks to me that this government is setting itself up for a very big fall when the realities of market pricing start to hit home. A lot of the supporting electorate are not going to be too pleased at some time in the not too distant future. Link to comment Share on other sites More sharing options...
notmyself Posted August 30, 2013 Share Posted August 30, 2013 Although Thailand is a major rubber producer, it has no influence over the global market price as the country has to rely mainly on exports, Agriculture Minister Yukol Limlaemthong said yesterday. As they did and do with rice? Export 3ml tonnes of rubber a year... How does that compare? Link to comment Share on other sites More sharing options...
bigbamboo Posted August 30, 2013 Share Posted August 30, 2013 If only someone in the know had told the government's economics guru in Dubai that Thailand would have no influence on global rice prices either. 2 Link to comment Share on other sites More sharing options...
rdcny1 Posted August 30, 2013 Share Posted August 30, 2013 New York Times story: Rubber Farmers Block Road After Prices Plunge By THOMAS FULLERAfter falling rubber prices drove many rubber farmers in south Thailand into debt, hundreds of them blocked the region’s main north-south road and railroad in protest. http://www.nytimes.com/2013/08/30/world/asia/thai-rubber-farmers-block-road-to-protest-prices.html?emc=edit_tnt_20130829&tntemail0=y&_r=0 Link to comment Share on other sites More sharing options...
laurentbkk Posted August 30, 2013 Share Posted August 30, 2013 Rubber today , Rice yesterday ..... what about tomorrow ? Link to comment Share on other sites More sharing options...
selftaopath Posted August 30, 2013 Share Posted August 30, 2013 They have no control over rice prices either ... For some silly reason they thought they did .... but as usual wrong Yes the BIG BIG BIG ego man's plan to RULE, manipulate, own the market. Doesn't everyone know he is the most brilliant man alive? Geeze what's wrong with the area outside the Thai WORLD???? Link to comment Share on other sites More sharing options...
TackyToo Posted August 30, 2013 Share Posted August 30, 2013 Yukol, who is also a deputy prime minister, said the government now had about 200,000 tonnes of rubber in its stockpiles Is this including all the rotten stuff?THAILAND: Minister shocked by massive store of rotting rubberMon Feb 25, 2013 | Deputy Agriculture and Cooperatives Minister Yuthapong Charassat said he was startled to find 10,000 tonnes of rubber left to rot in warehouses in three northeastern provinces under the government's pledging scheme http://polynews.net/en/news/polynews/116950/thailand-minister-shocked-by-massive-store-of-rotting-rubber/2013-02-25 My crystal ball says there will be a new incentive program by the TAT in 2015: Visit Thailand enjoy daily all you can eat free rice, with our famous slavery-shrimps and get your free pair of rubber fins and an inflatable rubber mattress. Phuket visitors also get a free bullet proof west and a Russian tour guide/body guard during their entire stay. 2 Link to comment Share on other sites More sharing options...
tingtongteesood Posted August 30, 2013 Share Posted August 30, 2013 I am sure the PT criminal gang will continue the madness until the next election in order to try and keep people onside to vote them back in, they will perpetuate it until they are gone. When they are gone, whoever comes next will have to choose to continue the madness, or try and clean up the enormous mess ! Link to comment Share on other sites More sharing options...
MaxLee Posted August 30, 2013 Share Posted August 30, 2013 Rubber today , Rice yesterday ..... what about tomorrow ? Cars cars cars,.... Link to comment Share on other sites More sharing options...
hellodolly Posted August 30, 2013 Share Posted August 30, 2013 (edited) How about if Thailand with-held its rubber from the world market for about 3 years, thus boosting the world's rubber price? The legendary economist that invented Thaksinomics/aka get rich from monopolistic practices would agree with me I'm sure. It worked so well for the Thai rice industry. +1 Edited August 30, 2013 by hellodolly Link to comment Share on other sites More sharing options...
Ulic Posted August 30, 2013 Share Posted August 30, 2013 OK so now we know the program works well for rice and rubber. What other large group of farmers/voters can we subsidize to get re-elected next time. Link to comment Share on other sites More sharing options...
Nickymaster Posted August 30, 2013 Share Posted August 30, 2013 Rubber today , Rice yesterday ..... what about tomorrow ? Cars cars cars,.... BBC: Is Thailand's car buying scheme a wise move? http://www.bbc.co.uk/news/business-23859931 Link to comment Share on other sites More sharing options...
lujanit Posted August 30, 2013 Share Posted August 30, 2013 (edited) This quote is from the Wall Street Journal http://online.wsj.co...828-706973.html Prime Minister Yingluck Shinawatra's administration has already spent about $18 billion to fund its controversial rice subsidy program, in which the government buys rice from local farmers at about 50% above what the grain would sell for on the global market. The program has built up at least $4.4 billion in financial losses, and a staggering amount--17 million tons--of rice is now in storage. That's the equivalent of two years of the country's exports. The government's support for rice farmers, in keeping with Ms. Yingluck's campaign promise to improve the livelihood and income of her key constituency, has encouraged other farmers to also ask for help. Then there is this tidbit in the article Perk Lertwangpong, president of Rubber Planter Cooperatives of Thailand, said the export value of rubber is more than that of rice, so rubber planters should get similar attention and aid from the government. Ouch! Edited August 30, 2013 by lujanit Link to comment Share on other sites More sharing options...
Bounngou Posted August 30, 2013 Share Posted August 30, 2013 while in Dubai, speak to OPEC for a few tips on commodity monopolies. Link to comment Share on other sites More sharing options...
Sing_Sling Posted August 30, 2013 Share Posted August 30, 2013 Luckily agriculture isn't subsidised anywhere else or there would be many of these stories like wine lakes, butter mountains - ah, that would be a laugh Link to comment Share on other sites More sharing options...
EyesWideOpen Posted August 30, 2013 Share Posted August 30, 2013 So looks like rubber is the next industry to be destroyed. Hmmmm.... My wife's family has a rubber plantation. Guess I will have to start planning financial support for them next year. Too bad, as they were somewhat well off, and in the past I have never had to send them any money... :-( Link to comment Share on other sites More sharing options...
Thai at Heart Posted August 30, 2013 Share Posted August 30, 2013 How about if Thailand with-held its rubber from the world market for about 3 years, thus boosting the world's rubber price? The legendary economist that invented Thaksinomics/aka get rich from monopolistic practices would agree with me I'm sure. It worked so well for the Thai rice industry. That would suit Malaysia and Indonesia down to the ground - their prices would increase and then when Thailand dumps their rubber on the market . . . the prices would collapse leaving Thais shafted twice. Yes, logical thinking. It's a commodity and prices will ebb and flow - the biggest mistake was for rubber plantations to have been replaced with oil palms . . . short-term thinking Go and read about the Thai rubber companies. They all have operations in Malaysia and Indonesia also. Link to comment Share on other sites More sharing options...
Sing_Sling Posted August 31, 2013 Share Posted August 31, 2013 How about if Thailand with-held its rubber from the world market for about 3 years, thus boosting the world's rubber price? The legendary economist that invented Thaksinomics/aka get rich from monopolistic practices would agree with me I'm sure. It worked so well for the Thai rice industry. That would suit Malaysia and Indonesia down to the ground - their prices would increase and then when Thailand dumps their rubber on the market . . . the prices would collapse leaving Thais shafted twice. Yes, logical thinking. It's a commodity and prices will ebb and flow - the biggest mistake was for rubber plantations to have been replaced with oil palms . . . short-term thinking Go and read about the Thai rubber companies. They all have operations in Malaysia and Indonesia also. Go and read? You may base your knowledge on whatever you read but I am in the rubber industry as well as oilpalm - and in this case I may just know a bit more about this than you . . . actually, you haven't added anything, have you - well, aside from telling me to go an read. (here's another hint: my current ip is Malaysian . . . meaning I do know both sides) So, go and experience and read various sources - which ones I will leave up to you as you did me Link to comment Share on other sites More sharing options...
Sing_Sling Posted August 31, 2013 Share Posted August 31, 2013 How about if Thailand with-held its rubber from the world market for about 3 years, thus boosting the world's rubber price? The legendary economist that invented Thaksinomics/aka get rich from monopolistic practices would agree with me I'm sure. It worked so well for the Thai rice industry. That would suit Malaysia and Indonesia down to the ground - their prices would increase and then when Thailand dumps their rubber on the market . . . the prices would collapse leaving Thais shafted twice. Yes, logical thinking. It's a commodity and prices will ebb and flow - the biggest mistake was for rubber plantations to have been replaced with oil palms . . . short-term thinking Go and read about the Thai rubber companies. They all have operations in Malaysia and Indonesia also. I actually don't know what you're trying to say . . . what is your point? Link to comment Share on other sites More sharing options...
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