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Thai cabinet approves $365 mln of support for rubber farmers - govt source
November 3, 2015 / 7:21 AM / 2 years ago

Thai cabinet approves $365 mln of support for rubber farmers - govt source

BANGKOK, Nov 3 (Reuters) - Thailand’s cabinet on Tuesday approved measures worth 13 billion baht ($365 million) to help rubber farmers and support falling prices, a government source familiar with the matter told Reuters.

The government said it would pay a direct subsidy of 1,500 baht ($42.22) per rai (0.17 hectares) for up to 15 rai per household, the source said.

Approval comes after the cabinet last week approved measures worth about $1 billion to help rice farmers, including grants and an interest rate reduction for farmers from state banks.

Rubber farmer groups had demanded last week that the government approve aid measures to support higher living costs and lower prices of the commodity.

$1 = 35.5300 baht Reporting by Pracha Hariraksapitak and Patpicha Tanakasempipat; Writing by Amy Sawitta Lefevre; Editing by Joseph Radford

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