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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  
 
[   June  2021 ]
icon The Role of Thailand in the International Rubber Association
The International Rubber Association (IRA) was inaugurated in Ottawa, Canada on 24 September 1971 through the cooperation of rubber associations in both producing and consuming countries. Currently, IRA consists of 20 members from 13 countries. The Thai Rubber Association is one of the initial members and a member of the Management Committee. With the term of 2 years, IRA is led by 8 Management Committee members, 4 of which are member associations from ...
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[   June  2021 ]
icon Thailand's 20-Year Rubber Strategy (2018 - 2037)
Rubber is the significant economic crop of Thailand related with more than 6 million local people, including farmers, employees, government officials, and other related parties (estimated 1 million households). The rubber processing products export generate income for Thailand more than 200,000 million baht per year. Thailand became the world's largest producer and exporter of natural rubber and rubber-based products in the world since 1991. In 2020, Th...
     [ Read more...]  

[   April  2021 ]
icon Container Shortage Crisis
The new wave of the COVID-19 outbreak caused Thailand's economic slowdown as well as high uncertainty. The Thai economy was projected to expand by 3.0 percent because Thailand confronts baht appreciation, comparing with competitive countries. As a result, Thailand is unable to compete on export prices, especially agricultural products and products using domestic raw material. Besides, the export sector and the logistic industry are affected by an unfore...
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[   April  2021 ]
icon Retrospection and Prospection
The current committee of the Thai Rubber Association has been in charge of the operation since 2019. The operation of the 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 relationships with other rubber producing countries, particularly in Asia; 4) to act as a central ...
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[   February  2021 ]
icon The New US Government, the Hopes for Global Economic Recovery
The United States has finished their presidential election on 20 January 2021 with Joseph Robinette Biden, Jr. or Joe Biden has been officially sworn in as the 46th president of the United States. After Joe Biden was inaugurated as the 46th US President, he issued 17 executive orders, presidential memoranda, and agency directives with the essence as follows: 1) Appoint Jeffrey D.Zients to serve as coordinator of the COVID-19 response and counselor to th...
     [ Read more...]  


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