December average RSS3 price announced by Central Rubber Market in Songkhla stood at 40.37 Baht/kg, 1.28 % up from November. The price increased slightly due to positive factor of depreciating Baht against US dollar, resulting in lower Thai rubber price in terms of currency exchange, attracting consumers to buy more rubber. Continual rainfall in southern Thai region reduce tappable days, resulting in inadequate raw material for entrepreneurs. Investors responded to positive sign of the recent economic recovery of the US which stimulates rubber consumption. They expected that European Central Bank is likely to add another QE to stimulate the economy. Furthermore, Thai and Chinese officials signed an MOU to trade 200,000 tons of natural rubber. However, rubber price is sill affected by continuous decline of crude oil price and slow growth of world economy, especially Chinese economy which pressures overall rubber demand. The price is also affected by the appreciation of Japanese yen and that most investors slow down during Christmas and New Year Holidays.
In November, Thailand exported 331,834.24 tons of natural rubber (including compound rubber), 3.55 % down from October and 11.76 % down yoy, generating export income of US$ 408.33 million, 7.2 % down from October, and 27.81 % down yoy. Overall, Thai NR exports (including compound rubber) reach 3,758,201.16 tons during January to November, 1.86 % down yoy. The 11 month export value touched US$ 5.37 billion, 23.55 % down yoy.
In tyre sector, in November Thailand exported 8.95 million units of all tyres, 14.05 % up yoy, with the export value of US$ 264.8 million. Overall, during January to November, Thai exports of all tyres reach 97.27 million units, 6.56% up yoy, generating export income of US$ 3.18 billion, 1.28% down yoy.
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