OTP points out Thai rubber exports in the year ’65 growing through the crisis 2nd World Champion
on April 7 Mr. Ronnarong Poonpipat Director of the Office of Trade Policy and Strategy (OCP) revealed that
PNP has studied the rubber exports of Thailand. According to the policy of the Deputy Prime Minister and the Minister of Commerce (Mr. Jurin Laksanawisit) that focuses on promoting the export of rubber products to foreign markets.
Rubber is Thailand’s second largest agricultural export, after refrigerated and frozen fruit. The export value in 2021 is at 175,978 million baht, a growth of 61.6 percent. The main export markets are China (35.3 percent share), Malaysia (14.4 percent share), the United States (8.3 percent), Japan (have 7.6 percent) and South Korea
(with a share of 4.0 percent). In 2021, products were exported in the form of block rubber, concentrated latex and raw rubber sheets. with growth rates of 88.3, 24.1 and 74.5, respectively.
The export statistics of Thai rubber products in 2021 indicate the expansion. And it is the golden year of Thai rubber. The key factors of growth come from 3 main factors:
1. The soaring demand in the global market during the COVID-19 pandemic resulting in the demand for anti-infection products especially rubber gloves soaring around the world
2. Behavior change from public transport Turn to more private cars to avoid the outbreak. Increased demand for vehicle tires Consequently, the use of rubber has increased, and (3) the recovery of the global economy in the second half of 2021 has resulted in an increase in demand for rubber raw materials in the industrial sector.
The OTP expects that in the first half of 2022, Thai rubber exports will continue to grow positively. Despite the challenges faced by many factors, such as (1) the trend of the COVID-19 outbreak that has begun to decline, and (2) the stock of rubber gloves in hand by importers. However, Thailand’s rubber export market remains positive as (1) the latex supply in the beginning of the year in Malaysia, one of the world’s largest exporters, is exhausted. Indonesia suffers from leaf fall disease causing the supply to the world market to decrease; and (3) the growth of the US car market. causing global demand for rubber to increase It is expected that these factors This will help Thai rubber exports expand well in the first half of 2022.
In addition, the situation of the Russian-Ukrainian conflict As a result, the price of rubber exports in the world market has increased. FOB price of rubber smoked sheet 3rd class as of March 30, 65, price 76.95 baht per kg, compared to the average price for the year 64 at kg. 65.34 baht per 1, which has a positive effect on the value of Thai rubber exports
The PHA has assessed the potential market for exporting rubber products in each category. by considering the nature of product demand Growth rate in 2021 and share in each market are as follows:
– latex It is a raw material for the production of rubber gloves. Medical gloves, condoms, rubber tubes, rubber hoses, latex glue and medical rubber devices. The potential markets are Malaysia, China, Indonesia, South Korea and Brazil.
– raw rubber It is an intermediate raw material in the rubber products industry. and is the type of rubber that is the most produced in Thailand The key markets with potential are China, Japan, the US, Brazil and Spain.
– rubber block Produced from raw rubber sheets and concentrated latex as intermediate raw materials used in the forming of various types of rubber products. There are important potential markets, namely China, Japan, the US and Taiwan.
Mr. Ronong added that Ministry of Commerce by Deputy Prime Minister and Minister of Commerce Has established a policy of agricultural production and market commerce to drive and promote the export of agricultural products and products. In the first quarter of the year 65 in the rubber products Ministry of Commerce by the Department of International Trade Promotion and the Office of Commerce in the southern provinces 7 provinces conducting business matching and negotiations on rubber products Under the OBM RUBBER SMART CONNECT activity on 23 – 24 Feb. 65, it is estimated that trading within 1 year will be worth 220.10 million baht. Business negotiations with a total value of 170.73 million baht