Thailand is going to increase a natural rubber (NR) export tax, which is currently collected at 1.4 baht per kg, to be 2 baht if the price stays below 80 baht per kg, to be 3 baht per kg if the price stays between 80 baht and 100 baht per kg, and to be 5 baht per kg if the price stays above 100 baht per kg respectively. The new scheme will be effective from 1 October 2010 onwards.
The objective of the above new scheme is to raise a national NR fund for multi-purposes of national rubber development, including financial support for rubber-smallholders when NR prices fall below their costs of living. Furthermore, it will be an incentive for foreign investors to invest and to produce more finished rubber products in Thailand at lower costs of production than overseas.
(irco.biz)
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