Jan 19 Thailand will sell 98,000 tonnes of rubber from state stockpiles in the first state auction in 2017, the country’s rubber authority said on Thursday.
The sale is worth over 6.64 billion baht ($187.57 million), said Titus Suksaard, governor of the Rubber Authority of Thailand.
The sale is occurring as Thailand, the world’s biggest rubber producer and exporter, has suffered from flash floods in the country’s main rubber-growing region in the south, which have killed over 40 people.
Global rubber prices have spiked on concern about the impact. Thailand’s rubber prices are also expected to rise this year due to the flood-hit supply. (Reporting by Patpicha Tanakasempipat; Editing by Christian Schmollinger)
