BANGKOK, 17 August 2014 – The Rubber Research Institute of Thailand has predicted that the rubber price in the country will drop due to the decreasing oil price, appreciation of the currency and economic slowdowns in the Eurozone and China.
The institute’s domestic rubber price projection was based on the rubber price on the Tokyo Commodity Exchange and the 7-month record low oil price. The strengthening of the baht and concerns over economic slowdowns in the Eurozone were also important factors influencing the rubber price in Thailand during this period, said the institute.
The institute therefore warned rubber producers to be careful when trading their produce while the domestic price had continued to drop overall, despite a recent increase because of frequent rains in many rubber plantation areas in Thailand.
