Thailand Plans to Clear Rbr in State Stockpiles

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By Supunnabul Suwannakij

Sept. 2 — Chanachai Plengsiriwat, managing director of ’s Estate Organization, says the country signed an agreement last week to sell 100,000 tons of and plans to sell a further 108,000 tons soon.

* Under the deal, ~30,000 tons of block rubber sold at 55 baht/kg; ~60,000 tons of sold at 62.56 baht/kg to co. Chanachai declines to identify

* Delivery to take place in 3 months, Chanachai says by phone

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* Rubber Estate looks to sell more rubber at prices above rates sold at last week

* Former govt led by Pheu Thai party spent 22b baht buying 208,000 tons of rubber to help lift local prices: Chanachai

* Rubber accounts for ~4% of Thailand’s exports and the country is the biggest producer and shipper of the commodity; agricultural products account for ~16% of Thailand’s exports.

– Bloomberg

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