By Supunnabul Suwannakij
Sept. 2 — Chanachai Plengsiriwat, managing director of Thailand’s Rubber Estate Organization, says the country signed an agreement last week to sell 100,000 tons of rubber 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 rubber sheet sold at 62.56 baht/kg to co. Chanachai declines to identify
* Delivery to take place in 3 months, Chanachai says by phone
* Rubber Estate looks to sell more rubber at prices above rates it 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
