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Thai rubber price makes 3-year high during pandemic

The Rubber Authority of Thailand (RAOT) on Saturday released a report indicating a 3-year high in rubber sales thanks to the COVID-19 pandemic.

The price of Thai ribbed smoked sheet has exceeded 60 baht (1.91 U.S. dollars) per kilogram for the first time in three years as worldwide demand to produce rubber gloves is still on the rise, said RAOT.

Deputy government spokesperson Rachada Dhnadirek earlier told the media at the Government House that Thai rubber farmers have felt relief as rubber prices continue to rise.

"There is also a huge demand from Chinese rubber glove manufacturers as China's economy is making an upturn," said Rachada.

The RAOT, which is under the jurisdiction of the Ministry of Agriculture and Cooperatives, said it is in cooperation with other relevant networks in creating and developing new rubber products, with an aim to increase the value of rubber products for more global market opportunities.

The RAOT said exports of Thai rubber gloves were growing by 8 to 15 percent.

Thailand is the second biggest exporter of rubber gloves, second to Malaysia, said RAOT. Enditem