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%).