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สาส์นจากนายกสมาคม TRA PRESIDENT VIEW
 
   PRESIDENT VIEW
   Natural Rubber Situation in 2024
The global economy tends to slow down due to the effects of high inflation and interest rates. There are also strengthening of the US Dollar issues and geopolitical conflicts (Geopolitical Tension). For example, the war between Israel and Palestine may expand, and the Russian-Ukrainian war may intensify. Furthermore, the US-China economic polarization (Decoupling), in which the US and its allies reduce their reliance on trade with China and rely more on its group. Moreover, China's economy is slowing down due to structural problems. As a result, it may affect the global supply chain and Thai product exports. Besides, drought problems may be more severe than expected, resulting in a severe slowdown in agricultural production. The World Trade Organization (WTO) has estimated that the world real GDP growth rate will be 2.6% in 2023 and 2.5% in 2024. As for Thailand's economy in 2024, the export is expected to recover from the trend of global trade expansion and supply chain issues easing.

The rubber situation in 2024 is expected to slow down due to factors related to the global economy and the Chinese economy, which tend to grow at a slower rate, pressuring rubber prices to decline. The Association of Natural Rubber Producing Countries (ANRPC) projects the world's natural rubber production in 2023 at 15.15 million tons (up 3.5% from 2022), with Thailand being the world's largest NR producer, followed by Indonesia, Cote d'Ivoire, Vietnam, and India, respectively. As for the world's natural rubber demand, it is 15.44 million tons (down 0.5% from 2022), with China consuming the most natural rubber worldwide, followed by Thailand, India, EU-27& UK, and Indonesia, respectively. Thailand has faced the risk of more frequent and severe climate change. Furthermore, Thai entrepreneurs have faced the challenge of adapting to more strict climate change regulations around the world, including the Carbon Border Adjustment Mechanism (CBAM) and the EU Regulation on Deforestation-Free Products, which will come into effect in early 2025, covering 7 product groups: cocoa, coffee, soybeans, rubber, oil palm, cattle, and wood.

In conclusion, the Thai Rubber Association (TRA) strongly believes in long-lasting relationships and cooperations with the concerned sectors, i.e., government agencies, the private sector, rubber farmers, as well as the three largest natural rubber producers, namely Thailand, Indonesia, Malaysia, and other rubber-producing countries in ASEAN, to provide strategic direction and solutions to falling prices in the short-term and long-term and prepare to deal with various trade regulations for the sustainability of natural rubber.

On the occasion of the New Year 2024, I extend to you and your family our warmest greetings and wish you a happy New Year, great success in your career, happiness in your family, and perfect health and lasting prosperity.

Mr. Chaiyos Sincharoenkul
President
The Thai Rubber Association

Monthly of   January  2024     
     
  history  
 
[   July  2015 ]
icon ASEAN Rubber Business Council and Thai rubber business development
The ASEAN Rubber Business Council (ARBC), formerly known as the ASEAN Rubber Business Club was founded on 23 October 1992 in Jakarta, Indonesia under the sponsorship of four natural rubber producing and trading nations in the ASEAN region, namely Rubber Association of Indonesia (GAPKINDO); the Malaysian Rubber Exchange (MRE); the Rubber Trade Association of Singapore (RTAS); and the Thai Rubber Association (TRA) in order to exchange market information, to consu...
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[   June  2015 ]
icon Southern International Trade Expo
Natural rubber is a plant of economic importance of Thailand, which has been the world’s biggest producer and exporter since 1991. In 2014, Thailand covers the cultivation area of natural rubber of 3.6 million hectares, of which tapping area is 2.78 million hectares. Thai rubber production reached 4.2 million tons in 2014, being domestically consumed for 541,000 tons and exported in primary-processing form of 3.78 million tons, data from the Office of Agricul...
     [ Read more...]  

[   May  2015 ]
icon TRA Annual Dinner 2015

The Thai Rubber Association organized the annual dinner on May 8, 2015 at Centara Grand, CentralWorld, Bangkok for the celebration of rubber industry prosperity and for the rendez-vous of brothers and sisters in rubber business community. In the morning of the same day, TRA also organized a golf tournament at Muang Kaew Golf, Samutprakarn. In addition, TRA served as a host organization of the 13th Meeting of the Technical Committee on Contract Ma...
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[   May  2015 ]
icon TRA Annual Dinner 2015

The Thai Rubber Association organized the annual dinner on May 8, 2015 at Centara Grand, CentralWorld, Bangkok for the celebration of rubber industry prosperity and for the rendez-vous of brothers and sisters in rubber business community. In the morning of the same day, TRA also organized a golf tournament at Muang Kaew Golf, Samutprakarn. In addition, TRA served as a host organiza...

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[   April  2015 ]
icon Retrospection and prospection

The current executive committee of the Thai Rubber Association has been in the operation since May 2014. The operation of the executive committee is based upon the following principles: 1. to operate on the principle of transparency and good governance 2. to corporate with government agencies and private sector both at local and internati...

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