BANGKOK – The Ministry of Commerce is addressing low rubber prices by partnering with businesses to provide export opportunities for sellers.
Minister of Commerce Apiradi Tantraporn has announced that her ministry will send a delegation to negotiate rubber trade deals in foreign countries such as China, Bangladesh, Iran, and countries in Latin America. The Ministry of Commerce has instructed the directors of Thailand’s International Trade Promotion offices in their respective countries to inquire into each country’s rubber demand and introduce them to the prospect of sourcing supplies in Thailand.
Rubber products that the ministry will promote include natural rubber, automotive parts, rubber gloves, medical gloves, rubber wheels, bedding, shoes and furniture parts.
The recent drop in oil prices has enabled businesses to utilize artificial rubber materials in place of real rubber, which has therefore suppressed the price of rubber in Thailand. However, the Minister of Commerce has continued to push for the export of rubber products. From January to May of this year, Thailand exported 1.48 million tons of rubber, while the ministry expects increased demand in the future.