The price of rubber listed on the Asian floor dropped sharply on the Osaka and Shanghai bourses, after a sharp increase in the past 2 weeks.
World rubber price At the Osaka Commodity Exchange (OSE) February term, February 2022, fell sharply to 228.1 JPY/kg, down 6.2 yen, or 2.72%. The price of rubber for November term on Shanghai trading floor dropped sharply by 550 CNY, to 13,215 CNY/ton, equivalent to 4.00%. Rubber prices traded on the Japanese market fell more than 3%, following a downward trend on the Shanghai trading floor, amid concerns about slowing demand in China – the world’s top importer.
In the first eight months of 2021, Thailand exported 3.24 million tons of rubber worth 168.54 billion baht (equivalent to 4.96 billion USD), up 5% in volume and 34.1% in value compared to same period in 2020. China, Malaysia, the US, Japan and South Korea are the 5 largest rubber export markets of Thailand in the first 8 months of 2021. In which, rubber exports to China accounted for 50.9% of Thailand’s total rubber exports with 1.65 million tons, worth 80.2 billion baht (equivalent to 2.36 billion USD).
Domestic rubber prices
In the domestic market, from the beginning of October 2021, the price of raw rubber latex across the country has not changed much. In Binh Phuoc, the price of raw rubber latex purchased is about VND 285325/degree of latex, stable compared to the end of September 2021. In Binh Duong, the price of raw rubber latex is purchased at 328-330 VND/degree of latex. In Dong Nai, the price of raw rubber latex is purchased at 308-315 VND/grade of latex. In Dak Lak, the price of the first cup of latex is purchased at 16,000-18,000 VND/kg depending on the type.