While rubber prices in Japan and Shanghai increased as investors expected China to reopen, despite the country's government reaffirming its strict COVID-19 prevention and control policy, rubber prices in Thailand still fell in the early days of November.
The Import and Export Department (Ministry of Industry and Trade) said that in early November, rubber prices in Thailand decreased, while prices in Japan and Shanghai increased as investors expected China to reopen, despite the government's The government of this country reaffirmed its strict COVID-19 prevention and control policy.
Specifically, at the Osaka Commodity Exchange (OSE), rubber prices increased slightly again. On November 8, the price of RSS3 rubber for delivery near term was at 216 yen/kg (equivalent to 1.47 USD/kg), up 0.1% compared to the end of October and up 1.2% over the same period last year. year 2021.
At the Shanghai Commodity Futures Exchange (SHFE), rubber prices have tended to increase sharply since the beginning of November until now. On November 8, the price of RSS3 rubber for delivery near term was at 11,745 yuan/ton (equivalent to 1.62 USD/kg), up 8.6% compared to the end of October, but down 16% over the same period last year. 2021.
In Thailand, rubber prices have tended to decrease since the beginning of November. On November 8, RSS3 rubber prices traded at 50.8 Baht/kg (equivalent to 1.36 USD/kg), down 2. 3% compared to the end of October and down 13.6% compared to the same period in 2021.
According to statistics of the Thai Customs Authority, in the 9 months of 2022, Thailand's rubber exports (HS 4001; 4002; 4003; 4005) reached nearly 4 million tons, worth more than 227 billion Baht, equivalent equivalent to more than 6 billion USD, up 9% in volume and 19.4% in value over the same period in 2021.
In which, rubber exports to China accounted for more than 50% of Thailand's total rubber exports in 9 months of 2022 with nearly 2 million tons, worth nearly 110 billion Baht, equivalent to nearly 3 billion USD, up 7 % in volume and 20.7% in value over the same period in 2021.
In the domestic market, from the beginning of November until now, the price of domestic rubber latex has remained low. In Binh Phuoc, the price of raw rubber latex purchased by Phu Rieng Rubber Company is at 265-275 VND/TSC, an increase of 5 VND/TSC compared to the end of October 2022.
Meanwhile, in Binh Duong, the purchasing price of raw rubber latex of Phuoc Hoa Rubber Company remained at 271-275 VND/TSC, stable compared to the end of last month.
In Gia Lai, raw rubber latex was purchased by Mang Yang Rubber Company at the price of 230-240 VND/TSC, stable compared to the end of October 2022.
