June average RSS3 price announced by Central Rubber Market in Songkhla stood at 55.32 Baht/kg, 8.88 % down from May due to the following factors. China has decelerated the purchase and anticipated lower price due to ample stock in the country. Stock accumulated at Shanghai Rubber Market touched 320,173 tons as of 17 June 2016, resulting in decline in Shanghai rubber futures, which also affects other markets. Investors sold contracts at TOCOM in line with price trend of other commodities, caused by depreciating yen and concerns over slowing global economy. The Japanese yen soared to almost 2-year high past 100 per US dollar this month. The World Bank is downgrading its 2016 global growth forecast to 2.4% from the 2.9% pace projected in January due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade and diminishing capital flows. However, positive factor is seen from the considerably tight output in producing countries, particularly Thailand, while exporters accelerated their purchase to meet delivery amid raw material scarcity caused by long drought and subsequent monsoon.
In May 2016, Thailand exported 270,399 tons of natural rubber (including compound rubber), 14.84 % down from April and 22.02 % down yoy, generating export income of US$ 361.48 million, 11.91 % down from April, and 28.81 % down yoy. Overall, during January to May Thai NR exports (including compound rubber) reached 1,584,447 tons, 9.11 % down yoy. The 5 month export value touched US$ 1.866 billion, 25.68 % down yoy.
In tyre sector, in May Thailand exported 9.93 million units of all tyres, 11.4 % up yoy, with the export value of US$ 309.62 million, 1.39 % up yoy. Overall, during January to May Thai exports of all tyres reached 45.4 million units, 8.46 % up yoy, generating export income of US$ 1.369 billion, 3.99 % down yoy.
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