Thailand's natural rubber production increased significantly in the first quarter of 2023

Thailand's natural rubber production achieved significant growth in the first quarter of 2023. According to the latest data, Thailand's total natural rubber production in the quarter reached 1.52 million tons, an increase of 19.1% compared with 1.27 million tons in the same period last year. For different rubber varieties, the output of tobacco sheet rubber decreased by 8.1% year-on-year, the output of standard rubber decreased by 23.1% year-on-year, while the output of latex and mixed rubber increased by 35.4% and 4.6% respectively year-on-year.

It is understood that the consumption of Thai natural rubber in the Chinese market has also shown a positive growth momentum. China's consumption in the first quarter reached 370,000 tons, a year-on-year increase of 13.8%, compared with 330,000 tons in the same period last year. The consumption of different varieties of natural rubber shows that the consumption of tobacco sheet rubber decreased by 23.8% year-on-year, the consumption of standard rubber increased by 64.4% year-on-year, and the consumption of latex and mixed rubber increased by 56.7% year-on-year and decreased by 62.4%.

In addition, as of the end of March, Thailand's natural rubber stocks were 910,000 tons, a year-on-year decrease of 12% and a month-on-month decrease of 1.5%. Specifically, cigarette sheet glue accounts for 6% of the inventory, standard glue accounts for 13%, latex accounts for 14%, and mixed glue accounts for 3%, while other varieties account for 65% of the total inventory.

Based on the above data, Thailand's natural rubber production showed strong growth in the first quarter, while the demand for natural rubber in the Chinese market was also rising. However, different varieties of rubber show differences in yield and consumption, and further observation and analysis of the impact of relevant factors are needed.