December average RSS3 price announced by Central Rubber Market in Songkhla stood at 42.19 Baht/kg, up 4.69% from November due to the following factors. Every December NR output in southern Thailand shrinks as more rain disrupts tapping ability due to the northeast monsoon. This is in contrast with more demand from Thai exporters. Some of them expected that domestic consumption was likely to increase due to Thai government’s promotion of NR domestic consumption in road construction. In Indonesia, there was a shortage of SIR20. SHFE bought 250,000 tons of rubber. Oil price is likely to climb up after oil producing countries agreed to cut production. However, Thai baht is likely to strengthen against US dollar. Bank of Thailand has recently raised policy interest from 1.5% to 1.75%, affecting investment, exports and domestic consumption. Global production sector slows down as demand for products and services decreases due to preceding higher prices. Trade war between the US and China continues. The US is against any attempt by China to usurp America's high-tech dominance, affecting Chinese production and export sector.
In November, Thailand exported 322,762 tons of natural rubber (including compound rubber), up 0.27% from October, down 14.24% yoy, generating export income of US$ 389.51 million, down 4.11% from October and 25.81% yoy. Overall, during the first 11 months, Thai NR exports (including compound rubber) reached 3,409,900 tons, down 0.61% yoy. The YTD export value touched US$ 4.60 billion, down 20.97% yoy.
In tyre sector, in November Thailand exported 11.22 million units of all tyres, up 6.34% yoy, with the export value of US$ 435.46 million, up 9.66% yoy. Overall, during the first 11 months, Thai exports of all tyres reached 120.20 million units, up 5.67% yoy, generating export revenue of US$ 4.51 billion, up 12.23% yoy.
![[Current Year]](/en/index.php/detail_member/thainr_graph/uploadfile/thb/020240215163540.jpg?detail=situation&yearPlus=Nothing){kind=link}