Rubber price to bounce higher next year: experts
The rubber price is expected to rise for the next few months as production declines and demand increases, experts said.
Vorathep Wongsasuthikul, chairman of Thai Rubber Latex Group Plc, said Thailand's rubber harvest will decrease under the impact of heavy rainfall from the El Nino phenomenon until April next year.
"Meanwhile, the demand for rubber is increasing as the tyre industry hoards the product to cope with shortages, so we expect the rubber price to rise until the second quarter of next year," he said.
He added that Malaysian research shows the Thai and Vietnamese rubber sectors would benefit from high consumption of natural latex gloves, which degrade more easily than synthetic rubber gloves.
Korakod Kittipol, marketing manager of Thai Hua Rubber Plc, said the price of rubber had increased due to heavy rain in the South and leaf fall disease, resulting in low productivity.
"We expect the price of rubber to move between Bt60 and Bt80 per kilo due to the abovementioned situation," he said.
