March average RSS3 price announced by Central Rubber Market in Songkhla stood at 48.59 Baht/kg, 20.21 % up from February due to the following factors. Supply is tight due to wintering season and hot weather; entrepreneurs accelerated the purchase for satisfactory delivery with concern over possible rubber shortage. Global crude oil price recovered at Nymex due to ballooning U.S. crude inventories and a lack of any fresh action from the world’s largest producers to temper supply; speculators therefore resorted to rubber. The Tripartite, including Thailand, Indonesia and Malaysia agreed to cut exports by 15% for the period of six months. Thai government’s business matching program and direct buying measure from smallholders could shore up prices at a certain level. Stronger economic figure of the U.S. helped ease fears that the U.S. was skidding toward a recession. Chinese government confirmed that China will achieve goals according to the five-year plans. The European Central Bank has announced to cut the interest rate at 0% for the Eurozone. Additional quantitative easing changes include an increased money-printing program along with a reduction in the deposit rate to -0.04%.
In February 2016, Thailand exported 339,414 tons of natural rubber (including compound rubber), 13.42 % up from January and 3.39 % down yoy, generating export income of US$ 365.54 million, 8.34 % up from January, and 26.2 % down yoy. Overall, during January to February Thai NR exports (including compound rubber) reached 638,673 tons, 7.49% down yoy. The 2 month export value touched US$ 702.95 million, 28.59% down yoy.
In tyre sector, in February Thailand exported 9.14 million units of all tyres, 20.6% up yoy, with the export value of US$ 269.86 million, 1.98 % up yoy. Overall, during January to February Thai exports of all tyres reached 16.78 million units, 5.48% up yoy, generating export income of US$ 493.77 million, 8.81% down yoy.
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