April average RSS3 price announced by Central Rubber Market in Songkhla stood at 73.31 Baht/kg, down 1.76 % from March due to the following factors. Volatility and appreciation of Yen brought about massive selling of contracts in expectation of profit and risk prevention. Chinese tyre manufacturers decelerated their purchase of rubber raw material due to high level of domestic stock which climbed up to 377,888 tons as of 14 April, 227 tons higher than that of previous week, resulting in lower price in Chinese market. Investors were concerned over uncertainty of U.S. economic stimulus policy. U.S. car sales in March decreased for 3 consecutive months. Furthermore, rubber price was under pressure of international political tension in Syria and North Korea. Consequently, investors avoided risk assets, including rubber. However, certain positive factors supported rubber price from further decrease. Untappability caused by heavy rain in southern Thailand coupled with wintering period in other regions obviously limited rubber output. Nymex crude oil price touched 50.24 – 52.24 dollar per barrel during the first week of April, up 3.97 % from previous week.
In March, Thailand exported 355,668 tons of natural rubber (including compound rubber), up 10.48 % from February, down 0.61 % yoy, generating export income of US$ 735.06 million, up 20.04 % from February, up 87.70 % yoy. Overall, during January to March Thai NR exports (including compound rubber) reached 990,258 tons, down 0.63 % yoy. The YTD export value touched US$ 1.89 billion, up 73.11 % yoy.
In tyre sector, in March Thailand exported 10.99 million units of all tyres, up 10.16 % yoy, with the export value of US$ 370.74 million, up 21.42 % yoy. Overall, during January to March Thai exports of all tyres reached 29.86 million units, up 11.62 % yoy, generating export income of US$ 1.00 billion, up 26.29 % yoy.
