BANGKOK, Oct 3 (NNN-TNA) – Thailand’s Commerce Minister, Jurin Laksanawisit, told the press at the Government House that, Thailand is likely to see higher shipments of rubber, as data indicated an increase of 3.19 percent this year.
“It is a combination of many factors that propelled the demand for Thai rubber,” said Jurin, “Global demand for rubber gloves and auto tyres keeps rising significantly because of the global economic recovery, after lockdown measures to curb the virus are being relaxed, as well as, the Thai government’s proactive approach to promote rubber exports.”
The minister said, he spoke with the International Trade Promotion Department, Rubber Authority of Thailand and rubber cooperatives, and all indicated to him that Thailand’s rubber products are expected to fetch 359 billion baht (11.37 million U.S. dollars) this year, 3.19 percent higher than 2019.
According to data released by the Rubber Authority of Thailand (RAT), prices of rubber sheet, block, and latex have all risen from the same period of last year.
In the first eight months, shipments of rubber products rose 2.32 percent year-on-year to 235 billion baht, while natural rubber exports decreased by 28.7 percent to 65.7 billion baht.
RAT also said that Thailand is the world’s largest producer of natural rubber, making 4.8 million tonnes last year, with exports accounting for almost four million tonnes.
Thailand ranks fourth for exports of rubber products and processed rubber, trailing behind China, Germany and the United States.– NNN-TNA
