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Wednesday, July 6, 2022

Thai Rubber Problems to Take Years to Solve: Gen. Prayuth

Thailand’s military-appointed government expects oversupply and plunging prices in the country’s rubber industry will need more time to solve.

“These problems have been caused by various factors, from global economy to the way the industry is being managed and the demand and the supply issues–all of which need to be overhauled,” says Gen. Prayuth Chan-ocha, the prime minister. “I personally feel the rubber problems will take more than a couple of years to resolve because they have been piled up for a long time.”

Rubber prices have continued with steady decline this year, with the Benchmark natural rubber futures on the Tokyo Commodity Exchange settled at 189.2 yen/kg Friday, 31% lower year-to-date.

Source: Dow Jones

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