Floods cause losses of 580 million USD to rubber plantations

The massive floods that hit five southern provinces in Thailand last week may cause damage worth 20 billion THB (580 million USD), according to the Rubber Authority of Thailand (RAT).

Heavy flooding in Thailand's Songkhla, Satun, Pattani, Yala and Narathiwat damages more than 5 million rai (800,000 hectares) of rubber plantations (Photo: nationthailand.com)

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 65 THB per kilogram.

Sukthat added that his agency will give 3,000 THB in compensation to farmers who have registered their farms with RAT. The authority’s provincial offices have also been granted an emergency fund of 100,000 THB each to distribute bags of necessities to flood victims./.

VNA