The Agricultural Futures Exchange of Thailand (AFET) predicts rubber price should rebound to at least 60 baht per kilogram next year due to both internal and external supporting factors.
AFET president Wiwat Teerawanichpong said the rubber price this year remains on a downward trend due to a decline of orders from key trade partners such as Europe, China and Japan.
However, he predicted the average price would increase next year to more than 60 baht per kilogram because of China’s capital injection into its economic system and continuous approvals for new investment projects in Thailand by the Board of Investment (BOI), resulting in a rising demand for rubber in 2015.
He suggested the government should assist rubber farmers by providing knowledge in commodity development and increasing the domestic demand for rubber to 20%, from 10% at present.