19 December 2009

Gabon to Double Payments to Rubber Farmers as Prices Recover

19 — Dec. 19 (Infosplusgabon) - Gabon's state-owned rubber producer, SIAT-Gabon, will double the price it pays farmers, according to Janvier Essono, director of the northern plantation of Mitzic.

The price that the government pays will rise to 300 CFA francs ($0.67) a kilogram (2.2 pounds) from 150 CFA francs with immediate effect, he said on national radio today.

The increase is due to a global recovery in rubber prices, he said. SIAT-Gabon plans to raise processed rubber output to 20,000 metric tons in 2010, from 15,000 tons this year, Essono added.

Created in 2004, SIAT Gabon has a capital of 9 billion CFA francs divided between Siat SA (97%) and the Belgian Investment international Company( SBI, 3%).


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