Thailand plans to produce more synthetic rubber

Thailand, the world's largest producer of natural rubber, plans to produce more synthetic rubber within the next five to six years to cope with the rising world demand, Agriculture and Cooperatives Minister Thira Sutabutr announced on Monday. Speaking to journalists after presiding at the World Rubber Summit and 43rd Assembly of Nations convening in Bangkok, Mr. Thira said Thailand produced more than three million tonnes of natural rubber in 2006. Thai exports of natural rubber last year totaled more than 2.7 million tonnes while exports of synthetic rubber accounted for only 15 per cent of that amount -- although the artificial rubber realized higher prices in the marketplace. Four major issues are expected to be discussed: plans for added natural rubber production by Indonesia, the Philippines, Cambodia and Myanmar; ways to increase synthetic rubber production and consumption; auto tire technology; and Thailand's future market on fixing rubber prices. The Thai Agriculture Minister said he had issued a policy statement calling for the increased production of synthetic rubber, boosting Thailand's production to 50 per cent more than the current production by 2013, which could also enable rubber tires manufactured here to gain a larger market share.