BANGKOK, March 16 (Bernama) -- Thailand has suspended its rubber exports until declining prices of the commodity on the domestic market improves, Thai News Agency (TNA) reported Deputy Prime Minister Suthep Thaugsuban as saying Wednesday in his capacity as chairman of the National Rubber Policy Committee. The prices of Thai rubber have been down from a record high of 187 baht (RM18.75) a kilogramme to 95 baht now (RM9.50). The decline has been attributed to weak demand from China, a major rubber importer, and the massive earthquake and tsunami that hit Japan on March 11.
According to the Thai deputy premier, the current prices of rubber on the domestic market remained higher than the Thai government''s target, but a suitable rubber price should be about 120 baht (RM12) a kilogramme. The Thai deputy premier said he believes that the domestic rubber prices will gradually improve, as local traders have now received additional loans from commercial banks to purchase rubber from local plantations.
-- BERNAMA
(Source: http://my.news.yahoo.com/thailand-suspends-rubber-exports-20110316-025230-881.html)
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