In 2023, Thailand's rubber production and export momentum is good

According to Thai media reports on January 4, Thailand's agricultural products are still at risk, because the output of agricultural products far exceeds Thailand's domestic consumer demand, so it must rely on the price depends on the export market of the global market, and must face fierce competition, which affects the stability of the national agricultural product prices, agricultural product prices are fluctuating every year, price fluctuations have a direct impact on farmers, which also leads to the government need to spend hundreds of billions of dollars a budget every year to help mitigate the impact
on farmers.

So, what will be the trend of Thailand's main agricultural products in 2023? In general, both production and exports have a positive trend, and as for the risk factor, the global economy tends to slow down
.

Among them, rubber depends on China's demand, as new rubber-producing countries expand planting area, such as Cambodia, Laos, Myanmar and Vietnam, etc.
, and begin to have rubber production, global rubber production is expected to increase
in 2023.
At the same time, the global demand for the use of rubber is expected to increase
from 2022 onwards with increasing demand from rubber-related industries and the expansion of the electric vehicle (EV) industry.

As far as Thailand is concerned, it is expected that as the demand for rubber in the world market increases as scheduled, the price of rubber in Thailand will also increase compared with last year, which will affect the price of
the future market and the domestic market.
However, it is also necessary to pay attention to the negative impact
of the global economic slowdown.
As well as fluctuations in world market exchange rates and crude oil prices, rubber prices
may also be affected.
In any case, with China's announcement that it will open its doors nationwide on January 8, it is expected that China's economy will recover and its imports of rubber will increase
.

From: China Rubber Information Trade Network