Thai Rubber Prices Reach 7-Year High at 90 THB per Kilogram

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BANGKOK (NNT) - Thai Rubber Prices Reach 7-Year High at 90 THB per Kilogram

 

The government has noted that local rubber prices have surged to 90 THB per kilogram, the highest in seven years. 

 

Prime Minister Srettha Thavisin announced this during his official visit to Germany. He shared the positive development for Thai rubber farmers and expressed his wish for the continuous rise of Thai rubber prices due to the increasing global demand for natural rubber.

 

The Prime Minister emphasized the importance of increasing per-area yield and mentioned that agricultural experts from the government and the ruling Pheu Thai Party are exploring ways to enhance productivity. 

 

According to him, this can be achieved through precision agriculture, using the correct fertilization formula, and boosting the export of Thai rubber to Malaysia.

 

Srettha expressed his reluctance for Thailand to merely serve as a transit country, referring to a report last week about over 100 trucks carrying rubber intended to pass through Thailand to Myanmar, which was not permitted due to uncertainties about their actual destination.

 

He concluded that with a robust governmental sector preventing illicit rubber from entering the country, the potential for higher rubber prices is significant.

 

By Naark Rojanasuvan

 

Source: NNT 2024-03-14

 

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[jacko45k]

There... I recall someone saying rubber would bounce back!

[Spilornis]

My favourite threads were the rubber farming and the pig raising.

Hope they are finally seeing some rewards