Bangkok – The Deputy Governor of the Rubber Authority of Thailand (RAOT) has revealed discussions have taken place with major Chinese online retailer Alibaba to sell Thai rubber on the platform.
RAOT Deputy Governor Nakorn Takweerapat explained that by placing Thai rubber on Alibaba it can be auctioned and purchased directly by businesses across China, potentially meaning over 200,000 tons in sales per year.
The RAOT is to be selective about the product placed on the platform with an emphasis on the quality of the rubber and the ability of the producer to supply demand. The authority is now looking into where its online service can be activated and the most appropriate software to accommodate the large variety of rubber the nation produces.
Thailand is the world’s leading producer for rubber sap and produces a wide range of rubber products. The chosen software will have to cover the range and meet the needs of Chinese buyers.
The new channel should help stabilize rubber prices as China is a major buyer of the product. Tapping into Chinese demand for rubber should help boost rubber prices to a more appropriate level.