BANGKOK (XINHUA) – Thailand is expected to produce some 4.9 million tonnes of natural rubber throughout this year, said Rubber Authority of Thailand (RAOT) Governor Nakorn
Of the total natural rubber production projected, some 4.18 million tonnes are bound for export to world markets including China and Britain, Nakorn said.
An estimated USD11.2 billion in value of rubber export is expected throughout this year, he said.
Meanwhile, the RAOT governor said the rubber prices at domestic markets may rise up to THB80 (about USD2.65) per kilogramme by the end of this year due in part to China’s increased manufacturing of automobile tires, rising external demands for latex gloves in the face of the global pandemic and the reduced volumes of rubber production in Indonesia and Vietnam.
The natural rubber is currently selling for an average of THB66.76 (about USD2.21) a kilogramme at domestic markets.