The Thai Office of Industrial Economics (OIE) has predicted that thecountry’s rubber consumption will reach 750,000 tonnes next year.
OIE Director Somchai Harnhirun said the demand for rubber will hit the said figure in 2014 and 1 million tonnes in 2015.
Thecomment came after the 2nd meeting with rubber business operators overapproaches to strengthening rubber product output in order to stimulatedemand in the industrial sector, which currently stands at 500,000tonnes annually.
After the Board of Investment (BOI) hasapproved a plan to entice Michelin, the giant tire manufacturer inSongkla province, to produce special medium-grade tires and export themto the company's mother country, France . If the plan goes well, itwill increase the demand for raw rubber by 40,000 tonnes per year.
Somchaisaid the tire industry, which accounts for 70 percent of the totalrubber consumption, is expected to expand between 7-8 percent next year.Meanwhile, the latex glove industry, which normally consumes only 20percent of the nation's rubber, is expected to continuously increase itsproduction in line with the global economic recovery.
Inaddition, the Government-approved 15 billion THB low-interest loan forrubber business owners via the Government Savings Bank and Thai CreditGuarantee Corporation is being finalised and the conditions of the loanwill soon be made public. The programme will help enhance rubberproduction capability in the industry, leading to higher rubberconsumption.-VNA
OIE Director Somchai Harnhirun said the demand for rubber will hit the said figure in 2014 and 1 million tonnes in 2015.
Thecomment came after the 2nd meeting with rubber business operators overapproaches to strengthening rubber product output in order to stimulatedemand in the industrial sector, which currently stands at 500,000tonnes annually.
After the Board of Investment (BOI) hasapproved a plan to entice Michelin, the giant tire manufacturer inSongkla province, to produce special medium-grade tires and export themto the company's mother country, France . If the plan goes well, itwill increase the demand for raw rubber by 40,000 tonnes per year.
Somchaisaid the tire industry, which accounts for 70 percent of the totalrubber consumption, is expected to expand between 7-8 percent next year.Meanwhile, the latex glove industry, which normally consumes only 20percent of the nation's rubber, is expected to continuously increase itsproduction in line with the global economic recovery.
Inaddition, the Government-approved 15 billion THB low-interest loan forrubber business owners via the Government Savings Bank and Thai CreditGuarantee Corporation is being finalised and the conditions of the loanwill soon be made public. The programme will help enhance rubberproduction capability in the industry, leading to higher rubberconsumption.-VNA
