Thailand's Ministry of Agricultural Cooperatives proposes a new strategy to boost Thailand's rubber industry

According to Thai media reports on October 11, the Ministry of Agriculture and Cooperatives of Thailand issued guidelines and strategies for the Thai rubber industry to enter the global market on October 10
.


Alongkorn Ponlaboot, consultant of the ministry, stated that the six guidelines and seven strategies are aimed at developing products, increasing farmers’ income and opening up more trade channels
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These strategies also include income protection, new market mechanisms and the application of projects, such as online auctions, rubber futures trading markets, and rubber valley projects
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He said that we are transforming the rubber industry to meet market demand during the Covid-19 crisis and to generate income for 1.
83 million rubber farmers across the country
.


He added that Thailand’s rubber production and exports are expected to grow further because the country can produce 92% of fresh latex and occupy nearly 70% of the global market
.
Due to the Covid-19 crisis, the demand for medical rubber products such as gloves is increasing
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In addition to Malaysia, China, and South Korea, Thailand’s largest importers of rubber, there are also opportunities to penetrate another 100 countries
.