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สาส์นจากนายกสมาคม TRA 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
The Thai Rubber Association

Monthly of   January  2024     
[   August  2020 ]
icon Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Cooperation
The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) sub-regional economic cooperation was initiative formed in 1993 by the governments of Indonesia, Malaysia, and Thailand. The goal of IMT-GT is to push the private sector of the member states to be leaders of trading and investment leading to economic growth and to support regional economic development by exploiting their economic advantages due to the similarity in geography, environment, religio...
     [ Read more...]  

[   July  2020 ]
icon Bio-Circular-Green Economy Model (BCG Model)
The holistic economic development or Bio-Circular-Green Economy Model (BCG Model) is the new economic development model for sustainable development and applies knowledge, administration, science, and technology in its concept, which is aimed at building economic strengths. It is bringing value from biodiversity and culture to converts into economic value. Furthermore, it is using the complete agricultural yield to change the consumption and production s...
     [ Read more...]  

[   June  2020 ]
icon The Impact of the Draft of the Rubber Benefits Sharing Act B.E. … toward Rubber Industry
Recently, the group of Member of Parliament has presented the draft of Rubber Benefits Sharing Act B.E. … and now it is in the process of gathering the suggestions from related parties via a website since 25 February 2020 following the section 77 in the Constitution of the Kingdom of Thailand B.E. 2017. According to the draft of the Rubber Benefits Sharing Act B.E. …, it determines the regulations on the management system, production control, distributi...
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[   May  2020 ]
icon The Thai Rubber Association’s Communication Channels Development
The Thai Rubber Association (TRA) had been established for more than 69 years. Nowadays, TRA has 46 companies as its members. TRA aims to protect members’ interests as well as the rubber business sector. The operation of TRA is based on the principle of transparency and good governance. TRA has an important role in coordinating with government agencies, the private sector, farmer groups, and international rubber associations. Another important role of TRA ...
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[   April  2020 ]
icon The Effect of COVID-19 on Rubber Industry
Since the end of 2019 until now, a lot of crisis happened around the world such as a series of massive bushfires across Australia, which affected the weather around the world, PM2.5 crisis occurred in many cities, and the COVID-19 pandemic, firstly found in Wuhan, the capital of Hubei, China. The World Health Organization (WHO) announced the COVID-19 outbreak as “a global pandemic”. Even though China can mostly control the pandemic, the COVID-19 outbreak...
     [ Read more...]  

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