CEO Morning Brief

Thailand Floods Could Cut Rubber Output by 320,000 Tonnes, Authorities Say

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Publish date: Wed, 04 Dec 2024, 10:42 AM
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TheEdge CEO Morning Brief

BANGKOK (Dec 3): Floods in Thailand's southern region could cut rubber production by 320,000 metric tonnes from a government target of 4.78 million tonnes for this year, the national rubber authority said on Tuesday.

The reduced output will affect rubber shipments in 2024 from Thailand, the world's biggest rubber exporter, said the Rubber Authority of Thailand's acting governor Sukatus Tarngwiriyakul.

"The flooding has prevented rubber farmers from tapping rubber," he told Reuters, adding domestic rubber consumption would also impacted.

The Southeast Asian country shipped out 2.86 tonnes of rubber in the January-September period, down 5.9% annually.

In 2023, rubber exports were at four million tonnes.

Thailand has about 5.96 million rai (953,600 hectares) of rubber planting areas in eight southern provinces, the rubber authority said.

Southern Thailand and Peninsular Malaysia have been hit by some of the worst flooding in decades, with dozens dead and hundreds of thousands displaced. Authorities have warned of more heavy rain this week.

The death toll in Thailand is 25, and more than 300,000 households were still affected, the interior ministry said. The government said it would offer support payments of 9,000 baht (US$262 or RM1,170) for each affected household.

Thailand's Meteorological Department warned people in the south to beware of heavy to very heavy rains and possible flash flooding and overflows from Dec 3-5.

Uploaded by Magessan Varatharaja

Source: TheEdge - 4 Dec 2024

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