The Thai Rubber Association organized the annual dinner Centara Grand Hotel, CentralWorld, Bangkok on Friday, 12 May 2017 and also organized a golf tournament at Riverdale Golf and Country Club, Pathum Thani. In addition, TRA also hosted the 18^th Economic and Statistic Committee Meeting and the 18^th Technical Committee on Contract Matter Meeting under the framework of ASEAN Rubber Business Council on 13 May 2017.

The annual dinner was numerously attended by over 1,000 guests, including delegates from various government agencies, private organizations, dignitaries and rubber businessmen in the country and from abroad. It was our great honour to invite Mr.Lertviroj Kowattana, Deputy Permanent Secretary, Ministry of Agriculture and Cooperatives to participate and deliver an opening speech. The key address is as follows.

Natural Rubber is one of the most important agricultural products of Thailand and the world. Thailand became the world’s biggest producer and exporter in 1991. In 2016, Thailand produced 4.16 million tons of natural rubber. We exported 3.6 million tons, generating export revenue of over US$ 5,000 million.

However, Last year has been the most challenging time for rubber industry. Rubber price dropped sharply in February 2016 to US$ 1.2 per kilogram amid strengthening dollar and slowing global economy.

Ministry of Agriculture and Cooperatives charged Rubber Authority of Thailand duties to solve the problem of falling rubber price through three main approaches, namely 1. Increasing productivity and quality; 2. Processing rubber for value addition; and 3. Promotion of domestic consumption through the following projects: 1. Cultivation reduction by cutting old rubber trees by 64,000 hectare per year; 2. Technology transfer to farmers to enhance the efficiency and quality of cultivation, tapping and harvesting; 3. Agricultural credit support scheme for rubber collection; 4. Agricultural credit support scheme for rubber processing; 5. Loan forbearance for agricultural institutes to reduce their obligations during falling rubber price situations; 6. Credit support scheme for entrepreneurs; 7. Credit support scheme for rubber product manufacturers; and 8. Public tyre manufacturing project branded as TH-TYRE – a project to boost optimal domestic consumption of rubber through manufacture of quality tyre certified by ISO and Thai Standard Organization with the property of elasticity, durability and affordability.

In response to NR falling prices, Thailand, Indonesia and Malaysia under the framework of International Tripartite Rubber Council (ITRC) had a meeting in December 2016 and agreed that export quota restriction measure resulted in rubber price to climb up to 3 dollar per kg. Additionally, the three countries agreed on promotion of domestic consumption and replantation.