Commerce Ministry expects B15bn rubber export

BANGKOK, Aug 2 (TNA) -- The commerce ministry invited about 100 foreign rubber importers to discuss business deals with Thai operators and expected 15 billion baht worth of rubber export from their meeting. Commerce Minister Apiradi Tantraporn said 106 rubber importers from 26 countries were invited to the session. They came from Southeast Asian nations, India, Bangladesh, China, Taiwan, South Korea, Japan, the European Union, Russia, Egypt, Saudi Arabia, Iran, Turkey, Argentina and the United States, among others. About 100 Thai operators met them for potential trade deals. According to the minister, the importers were interested in tires, natural and compound rubber and rubber gloves. She expects trade in about 300,000 tons of rubber worth 15 billion baht from the campaign. The Commerce Ministry and the Rubber Authority of Thailand would proceed with such campaigns to raise the local rubber price to 60-70 baht per kilogram, Ms Apiradi said. Ms Malee Choklumlerd, director-general of the Department of International Trade Promotion, said importers participating in the business deal event including leading rubber importers and rubber product manufacturers from China, Iran and Malaysia. Thailand is the biggest rubber-producing country with output exceeding 4 million tons a year, forming one-third of worldwide rubber yields. Its natural rubber export was estimated at 14.34 billion baht in June, up 22.8% year on year, and at 113.02 billion baht in the first half of this year, up 55.1%. Its export of rubber products amounted to 28.72 billion baht in June, up 38.7%, and at 170.15 billion baht in the first six months, up 53.2%. Its biggest rubber market is China, followed by India and the US. (END)