November average RSS3 price announced by Central Rubber Market in Songkhla stood at 62.23 Baht/kg, 11.68 % up from October due to the following factors. Rubber prices climbed up in all markets. RSS 3 price at TOCOM touched 16-month-high level. Heavy rains in rubber planting areas of southern Thai region, Malaysia and Indonesia disrupted rubber production, resulting in inability to sufficiently fulfill consumption requirements of tyre manufacturers in Japan, China, Europe and India. There was purchasing competition among Thai entrepreneurs to procure raw material for delivery. Consequently, rubber growers enjoyed remunerative prices all over the month. Japanese yen depreciated at its 6-month-low level of 110.57 yen per US dollar as of 18 November 2016. Global crude oil price was 4% up, touching its 3-week-high level as of 22 November 2016 after there was an expectation that the upcoming OPEC meeting would bring about reduction in crude oil production. On economic front, China’s PPI in October improved to its 55-month-high level, and CPI expanded by 2.1% from 1.9% in September. China’s industrial production expanded by 6%. Japan’s Q3/2016 GDP grew 2.2%, higher than previous expectation at 0.8%.
In October 2016, Thailand exported 311,525 tons of natural rubber (including compound rubber), 5.02 % up from September and 9.45 % down yoy, generating export income of US$ 410.43 million, 5.36 % up from September, and 6.72 % down yoy. Overall, during January to October Thai NR exports (including compound rubber) reached 3,139,314 tons, 8.38 % down yoy. The first 10 months of 2016 export value touched US$ 3.77 billion, 23.96 % down yoy.
In tyre sector, in October Thailand exported 9.27 million units of all tyres, 2.77 % up yoy, with the export value of US$ 305.88 million, 7.44 % up yoy. Overall, during January to October Thai exports of all tyres reached 93.34 million units, 5.69 % up yoy, generating export income of US$ 2.95 billion, 1.43 % up yoy.
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