MALAYSIA: Rubber prices in Malaysia higher than Thailand - RISDA

The Rubber Industry Smallholders' Development Authority (RISDA) has denied allegations that rubber prices in Thailand are higher than Malaysia.

RISDA chairman Datuk Zahidi Zainul Abidin said prices of rubber in Malaysia are higher compared with Thailand. He said based on the record from the Thai Rubber Association, the price of scrap rubber in Thailand is 15 Baht or RM1.87 while in Malaysia the price is RM1.90 or three sen higher in contrast to what is being highlighted on the social media that price in Malaysia is RM2.20 compared with Thailand's RM4.50 per kilogramme.

"It is the same with latex. We buy at RM3.50 a kilogramme while Thailand offers 28 Baht or RM3.39. Therefore, our price is better than Thailand which is lower by 11 sen," he told reporters when commenting on reports in the social media that has gone viral.

Source: “Bernama” (National News Agency of Malaysia), Kuala Lumpur; 7 Jan 2016
(Syed Rashid Ali, Karachi, Pakistan)