A bill to revamp the management of the rubber industry passed its first reading in the National Legislative Assembly (NLA) yesterday.
The NLA voted 174-1 to accept the bill in principle with five abstentions.
A panel has been set up to vet the bill.
The bill would revoke the existing eight laws governing the rubber industry and set up the Rubber Authority of Thailand (RAOT) as the central body to oversee the rubber industry, manage funds to support it, and promote the country as a rubber production hub.
Under the bill, proposed by the cabinet, three Agriculture Ministry agencies would be merged into the new body, a state enterprise. The agencies are the Rubber Research Institute, the Office of the Rubber Replanting Aid Fund and the Rubber Estate Organisation.
The RAOT would support research and development of rubber production. It would provide farmers and traders with financial help, marketing assistance, and academic knowledge. The body would also work to stabilise rubber prices and promote the replanting of rubber trees.