RAOT spends 2.29 billion for phrase 3 rubber insurance, benefited from rubber prices rising


The current rubber price has increased to a more favorable price, but the Rubber Authority of Thailand (RAOT) still guarantees the crop price for stabilization.

Mr. Nakorn Trakwirapat, Governor of the Rubber Authority of Thailand (RAOT) revealed that although the current rubber price has risen already, the price of fresh latex is at 67.50 baht, an increase of 0.30 baht, a cup of rubber 51.10 baht, fixed price, raw rubber sheet 67.15 baht, an increase of 1.81 baht, smoked sheet rubber 72.95 baht, an increase of 1 baht, the rubber farmer income insurance scheme is also still an important project, which is considered to help farmers by using indirect payment measures, which is a guideline to help farmers to have a steady income during the COVID-19 outbreak.

Mr. Nakorn also said that RAOT has set up a rubber farmer income insurance project, phase 1-3, from October 2019 to March 2022. The price insurance for 3 types of rubber is as follows: good quality raw rubber sheet, 60 baht per kilogram, fresh latex (DRC 100%), 57 baht per kg, and cup lump (DRC 50%), 23 baht per kilogram. Currently, the income insurance period has just ended. For the income insurance for rubber farmers, phase 3 is still in the period of payment of price insurance or from October 2021 to September 2022, the budget of 10,065 million baht, with the result of payment to 6 farmers in a total of 1,467,981, amounting to 2,292 million baht, which is considered less budget than phase 1 and 2 due to greater demand. As a result, at the beginning of last year, rubber prices began to recover and were higher than the price that the government has ensured for income in the 5th and 6th installments of the 3rd period. Therefore, income insurance is not paid to farmers during that period.

“Even though the price of para rubber is starting to return to a more favorable price, the income of agricultural crops must still be guaranteed to help farmers and it will help stabilize the price of para rubber in the country to be in a better direction as well,” said Nakorn.

Mr. Nakorn said that the rubber farmer income insurance project, phase 1 (October 2019-September 2020), has a budget of 24,278 million baht, resulting in payments to 1,272,883 farmers, totaling 24,172 million baht. Rubber Farmers, phase 2 (October 2020-September 2021) results in payments to farmers, a budget of 10,042 million baht, totaling 1,124,9902 cases, amounting to 7,553 million baht.


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