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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  
 
[   April  2014 ]
icon Opportunity of Thai Rubber in Iran

 

Iran is one of the most interesting export destinations with high potential for expansion of Thai natural rubber and related product industry. Iran has a total population of around 80 million. It has a rich abundance of natural resources, including oil, natural gas, coal, chromium, copper, steel, lead, manganese, zinc, sulfur, etc.  It is also home of several winter plants. Iran shares the border with Kazakhs...

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[   March  2014 ]
icon Retrospection and prospection

 

The current executive committee of the Thai Rubber Association has been in the operation since May 2012 and the term will be ending in upcoming April. 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 international level 3. to cherish close ...

     [ Read more...]  

[   February  2014 ]
icon Brazilian market

Brazil is one of the BRIC countries, comprising of Brazil, Russia, India and China. It is the world’s fifth largest country with the biggest population in South America. It is the land of agriculture and tropical rain forest. With rich natural resources and large number of labourers, Brazil has the highest GDP in South America and the world’s tenth highest GDP. IMF estimated Brazilian economic growth at 3.2 percent in 2014.

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[   January  2014 ]
icon African market

Africa has become a new interesting export market and attractive foreign direct investment destination amid the slowing economy of mature markets namely USA, EU and Japan. Exporters resort to Africa as a new market with high potential return. It is the second largest market after Asia, comprising of 54 countries and over 1 billion population (as of 2009). ...

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[   December  2013 ]
icon Rubber scenario in 2014

It is expected that rubber scenario in 2014 is still in low gear amid the slowing global economy. The International Monetary Fund (IMF) forecasts global growth to average 2.9 percent in 2013 — below the 3.2 percent recorded in 2012 and to rise to 3.6 percent in 2014. Much of the pickup in growth is expected to be driven by advanced economies. Growth in m...

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