3-nation forum urged to boost rubber prices

[Lite Beer]

3-nation forum urged to boost rubber prices
The Nation

BANGKOK: -- PRIME Minister Prayut Chan-o-cha told Malaysia yesterday that a tripartite meeting should be held as soon as possible between Thailand, Malaysia and Indonesia to find urgent ways to tackle the falling price of rubber.

The issue was discussed during a meeting between Prayut and Malaysian Defence Minister Hishammuddin Hussein at Government House.

Hishammuddin co-chaired the Thai-Malaysian General Border Committee with Defence Minister Prawit Wongsuwan on Thursday.

Yesterday the Malaysian minister paid a courtesy call on Prayut.

Government spokesman Yongyuth Mayalarp quoted Prayut as saying that the tripartite meeting is urgently needed to find a joint measure to set rubber prices for farmers in the three countries.

Yongyuth said the host country for the meeting would be decided at a later date.

The Malaysian minister said he would convey the message to his prime minister and coordinate with the countries' economic ministers on the matter.

At yesterday's meeting, both sides discussed measures to restore peace in the deep South.

Prayut updated the minister on work being done by the Thai team to restore peace talks, as Malaysia will be the mediator of that process.

They also thanked each other for the assistance both countries gave when the other faced heavy flooding.

The spokesman said Prayut told Hishammuddin that he wanted Malaysia to take care of Thai workers in Malaysia.

After, Army chief General Udomdej Sitabutr led the guest and an entourage to the orchid fair near Government House. The fair was initiated by Prayut in order to promote Thai orchids and generate income for orchid growers.

The Malaysian minister was seen talking to vendors about the prices and types of orchids.

Udomdej told reporters that Prayut and Hishammuddin did not discuss the peace talks in the South in particular.

When asked whether the peace talks could be held in April, Udomdej said a detailed discussion was needed on the issue.

Source: http://www.nationmultimedia.com/national/3-nation-forum-urged-to-boost-rubber-prices-30253032.html

-- The Nation 2015-01-31

[PepperMe]

They think they can control the global rubber price?..... I can see another rice PTP style price trip up on the way.

But then again Malay and Indo are not as stupid as Thailand. Vietnam, India and Cambodia will be licking their lips waiting to take all the business.

Making yourself uncompetitive is business suicide, have they not learned this already?

[LuckyLew]

Thai never seem to be able to learn from the past

Guess that is why Thailand is a 3rd world country

[Strangebrew]

Oh another opec type style of doing business? That worked real well they raised prices US opened up new reserves and drove prices down. But hey whatever floats your boat. One day you will get it This just isn't the day.

[WhizBang]

Appears Thailand learned NOTHING from the rice fiasco.

[Ulic]

I don't think they understand that companies that use rubber in manufacturing can use rubber from trees or from oil. So with the price of oil having

dropped the price of rubber from trees also drops. Unless this three nation group can raise the global price of oil they are just blowing smoke.

Edited January 31, 2015 by Ulic

[Don Aleman]

This, in much of the rest of the world, is described as " Price Fixing" and, if further considered. will get R & D departments of major rubber users to come up with, and they will, other materials to replace much/most maybe all rubber. Rubber is one of the few natural products not yet replaced because it was cheap so price up will probably mean rubber orders down. Most " price fixing" is done under cover but Thailand chose to advertise their skullduggery !

[bikerbri]

The Americans are producing latex from dandelion weeds at very low cost and investing heavily.The days of tapping rubber tree's is coming to an end. Thailand once again living in the past.

[rickirs]

This demand by Prayuth for a tripartite meeting is just a knee-jerk reaction in his deparate efforts to forestall major protests by the rubber farmers. The Junta spares no efforts to crackdown on politician and student protests but when it comes to supporters of the Junta ..... well not so tough.

Just yesterday rubber growers in Surat Thani province delivered a proposal to the NCPO for their solutions for falling prices, including setting up a "special [government] unit in each district to buy all categories of rubber twice a month" (like the rice pledge program?). BUT the rubber farmer representative said,

"If the government remained oblivious to their demand, the affected rubber growers might converge on the Government House in Bangkok." !!!

In December 2014 the Government in response to rubber farmer threats of protests in January 2015 quickly delivered "1,000 baht per person compensation payments" for a total of Bt276 million. The government also tried to appease their demand that the Government buy their [rubber sheet] products at 80 baht/kg when market price was below 50 baht/kg by buying their product at 60 baht/kg. The Government even sold 400,000 tons to China for 60 baht/kg to be delivered in eighteen months. Unfortunately, the rubber farmer's cost of production is 64.5 baht/kg. and they want a minimum of 80 baht/kg.

It looks like the rubber farmers have forced Prayuth to a little attitude adjustment of their own.

[ikke]

He asked this to the minister of defense...... proves ones more he is not a diplomat but a soldier, he should do what he is good in, and that is sure not governing.