July average RSS3 price announced by Central Rubber Market in Songkhla stood at 58.73 Baht/kg, 6.16 % up from June due to the following factors. Rubber output in producing countries shrinks, especially in Thailand as heavy rain disrupted tapping. Thai exporters are unable to procure rubber to meet shipment obligations, accelerating the purchase of raw material. Japanese yen depreciated to the average of 105.64 during last week of July. The People’s Bank of China continued to pump money into inter-bank market to provide more liquidity. Chinese Q2/2016 economic growth is higher than expectation, giving hope that China is heading towards stability. Chinese Q2/2016 GDP grew by 6.7% as in Q1. European Central Bank exercised tools to bring stability into the market, preserving its zero interest rate policy. Japanese government is planning to compile a stimulus package of at least 20 trillion yen ($186.60 billion) to help the economy emerge from deflation and fend off possible adverse effects of Brexit. Investors are of positive view towards U.S. economy, especially momentum in the labor market and performance of key listed companies.
In June 2016, Thailand exported 313,503 tons of natural rubber (including compound rubber), 15.94 % up from May and 1.82 % up yoy, generating export income of US$ 356.14 million, 1.48 % down from May, and 23.48 % down yoy. Overall, during January to June Thai NR exports (including compound rubber) reached 1,897,951 tons, 7.47 % down yoy. The first half of 2016 export value touched US$ 2.22 billion, 25.34 % down yoy.
In tyre sector, in June Thailand exported 10.07 million units of all tyres, 2.77% up yoy, with the export value of US$ 329 million, 3.54 % up yoy. Overall, during January to June Thai exports of all tyres reached 55.47 million units, 7.37% up yoy, generating export income of US$ 1.69 billion, 2.62 % down yoy.
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