Connect with us

Phuket

Falling rubber prices force market shift

Legacy Phuket Gazette

Published

 on 

KRABI: The Rubber Authority of Thailand (RAOT) announced on Wednesday that the Kingdom will target Indian and Middle-Eastern markets in an effort to bolster Thailand’s share of the rubber commodities market.

Titus Suksaard, the governor of RAOT, laid out plans at the Global Rubber Conference in Krabi, which was attended by rubber producers, traders and experts from Thailand and 25 other countries.

“Besides exchanging ideas, this conference gives us the chance to build new business relations between Thailand and those 25 other countries,” Mr Titus said. “We also discussed and analyzed the present and future of the rubber industry, marketing strategies, new technologies, product development, pricing, and how to modernize the rubber economy.”

Thailand is currently the world’s leading rubber exporter, comprising some 36 per cent of the world’s rubber production. Rubber prices have declined almost 50 percent over the past five years, according to the Thai Rubber Association.

“The rubber price is not really high these days because of world economic issues,” Mr Titus said. “Thailand exports about 90 per cent of its rubber, using only about 10 per cent within the country. That is why the price is dropping, as world demand has also dropped due to economic circumstances.”

Mr Titus said it is the government’s current plan to boost Thailand’s internal rubber consumption in order to drive prices back up.

“Besides this plan, we will also start to focus on increasing our exports to India and Middle Eastern markets, as they are ideal markets to extend into and boost exports.”

— Kritsada Mueanhawong

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Indonesia5 hours ago

Man with Covid-19 disguised as his wife to board flight

Hua Hin6 hours ago

Kitchen raiding elephant breaks same wall in house for more food

Thailand8 hours ago

1st Taekwondo Olympic gold as Panipak wins for Thailand

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Coronavirus (Covid-19)9 hours ago

AstraZeneca Thailand writes open letter to people of Thailand

Koh Samui13 hours ago

Surat Thani announces new Covid-19 measures for Samui Plus

Thailand16 hours ago

His Majesty the King donates 2.8 billion baht in Covid-19 aid

image
Join the conversation on the Thaiger Talk forums today!
Coronavirus (Covid-19)17 hours ago

Covid UPDATE Provinces: 14,260 new infections, 119 deaths

Coronavirus (Covid-19)17 hours ago

Vaccination registration open for foreign residents over 60 in Bangkok

Coronavirus (Covid-19)19 hours ago

Autopsy results for woman who died after mixing vaccines

Coronavirus (Covid-19)23 hours ago

Covid UPDATE Saturday: 14,260 new infections, news briefs

Thailand1 day ago

Department head predicts Covid-19 could last up to another year

World1 day ago

Swedish prison hostage situation resolved with pizza

Thailand1 day ago

Minister: Foreigners, migrant workers are cared for amid Covid-19

Coronavirus (Covid-19)1 day ago

“Withhold Intubation” for certain older Thammasat Hospital patients

Coronavirus (Covid-19)2 days ago

Bang Sue vaccination centre open for expats 60+, under must wait

Thailand5 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism5 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket5 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism5 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand5 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism5 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand6 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand6 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand6 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand6 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand6 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand6 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand6 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand6 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand7 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending