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  NR SITUATION OF   January 2019 [Current Year]  
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Thailand monthly rubber report - January 2019

       January average RSS3 price announced by Central Rubber Market in Songkhla stood at 45.9 Baht/kg, up 8.79% from December 2018 due to the following factors. Heavy rain poured southern Thailand after the New Year, followed by Pabuk tropical storm in the second week, resulting in tighter output, while demand from processors increased as they tried to meet export volume demanded, probably due to insufficient stock. Moreover, winter season is coming soon. The tension from China-US trade war loosened. China’s proactive fiscal policy will be implemented with more effectiveness, involving a larger scale of tax and fee cuts. China will improve consumption and boost spending power for stronger domestic market. Global oil price tends to improve as oil supply is likely to decrease after Saudi Arabia planned to cut production and the US sanctioned Venezuela's state-owned oil company. However, as a result of Thai baht strengthening against the US dollar; Thai NR exporters lost their competitive advantage. With the overall global economic uncertainty, entrepreneurs are reluctant to expand investment in production and service. In addition, supply side inflation resulted in higher price, affecting consumption. 

       In December 2018, Thailand exported 296,384 tons of natural rubber (including compound rubber), down 8.17% from November and 22.52% yoy, generating export income of US$ 356.72 million, down 8.42% from November and 33.64% yoy. In 2018, Thai NR exports (including compound rubber) reached 3,706,348 tons, down 2.81% yoy. The YTD export value touched US$ 4.96 billion, down 22.05% yoy.     

       In tyre sector, in December 2018 Thailand exported 11.49 million units of all tyres, up 7.17% yoy, with the export value of US$ 432.56 million, up 13.76% yoy. In 2018, Thai exports of all tyres reached 131.70 million units, up 5.80% yoy, generating export revenue of US$ 4.94 billion, up 12.36% yoy.



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