Thai natural rubber rise 15% to $1.54 in Jan 2024, FOB prices up 5%

Natural rubber prices in Thailand’s domestic market have risen by 15.78 per cent in the last 1 year to reach $1.54 per kg in the first week of January. However, the FOB prices of the commodity in Bangkok, Thailand, saw a rise of 5.17 per cent, reaching $1.83 per kg in the first week of this month. 

Natural rubber was traded at $1.33 per kg in Thailand’s domestic market at the beginning of the first quarter of 2023. It decreased by 0.75 per cent to $1.32 per kg in the first week of the second quarter. The prices then declined further by 4.55 per cent to $1.26 per kg in the first week of the July-September quarter of 2023. However, natural rubber jumped by 14.29 per cent to $1.44 per kg at the beginning of the last quarter of 2023. The prices further increased by 6.94 per cent to $1.54 per kg in the first week of the new year, according to Fibre2Fashion’s market insight tool TexPro. 

The FOB price of natural rubber was recorded at $1.74 per kg in the first week of January 2023 in Bangkok. The prices dropped by 8.62 per cent to $1.59 per kg in the first week of July 2023 after a steady trend in the second quarter. However, the prices recovered by 6.92 per cent to $1.70 per kg in the first week of the October-December quarter of 2023. The FOB price then further rose by 7.65 per cent to $1.83 per kg in the first week of January 2024, as per TexPro.

ALCHEMPro News Desk (KUL)