Floods cause $580 mln loss to Thai rubber plantations
The massive floods that hit five southern provinces in Thailand last week may cause damage worth THB20 billion ($580 million), according to the Rubber Authority of Thailand (RAT).
Sukthat Tangwiriyakul, acting governor of the authority, said heavy flooding in Songkhla, Satun, Pattani, Yala and Narathiwat damaged more than 5 million rai (800,000 hectares) of rubber plantations.
RAT estimates that farmers will not be able tap their rubber trees for another month and a half, which will cause some 20 billion baht in lost revenue. The estimate is based on the current price of latex at THB65 per kilogram.
Sukthat added that his agency will give THB3,000 in compensation to farmers who have registered their farms with RAT. The authority’s provincial offices have also been granted an emergency fund of THB100,000 each to distribute bags of necessities to flood victims.
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