Seminar on Malaysia’s Readiness for MSNR Towards EUDR
Seminar on Malaysia’s Readiness for MSNR Towards EUDR IRCo participated in a seminar entitled “Malaysia’s Readiness for MSNR Towards EUDR” that was organised in conjunction
13 January 2025
Four provinces in Southern Thailand, namely Songkhla, Pattani, Yala and Narathiwat are experiencing heavy rain and severe floods. Many roads are forced to close as the flood keeps worsening, ravaging houses and public facilities. Water level in some areas in Hadyai, Songkhla is exceeding 1.5 meters, affecting residents as their homes are submerged. Yala is the hardest-hit province as the residents are facing the worst flooding in two decades. The Thai Meteorological Department forecasts the Southern provinces particularly in the eastern area will continue to receive heavy rains throughout the week driven by the strong northeastern monsoon. IRCo foresees the downpours and floods force the farmers and tappers to halt their tapping activities and the surging floodwaters have been affecting transportation of rubber to collection centres and factories. IRCo expects that it is most likely the rubber supply will be limited as the rains keep pouring, preventing tapping.
Source: Bangkok Post, 28 November 2024
The Regional Rubber Market Price (RRMP) primarily exhibited a downward trend, decreasing to the lowest price of the quarter at 194.78 US cents/kg. This negative movement was attributed to the unusual decline in prices of RSS3 and Latex, compared to the relatively stable prices of SIR20 and SMR20. The market prices began to move downward, driven by uncertainty surrounding the US election and its outcome. However, prices have since rebounded due to flooding that has impacted major natural rubber-producing regions, including Southern Thailand, Sumatra Island in Indonesia, and the Northern Peninsula of Malaysia.
USD Depreciation:
Market foresees weak USD Index due to expected lowering of FED interest is positive to stabilise other currencies.
Short-run Sluggish demand growth:
There is a possibility for a slower demand growth due to lower Global Annual GDP Growth and tyre growth production.
Expansionary monetary policy:
Market’s expectation of FED to cut interest gradually (0.75% to 1.00%) from 5.25% – 5.5% in 2024 will help to ease some financial pressure on the USD Debt nations.
EUDR regulations:
EUDR regulations and sustainability initiatives raise costs for natural producers, potentially leading to short-term price increases.
Seminar on Malaysia’s Readiness for MSNR Towards EUDR IRCo participated in a seminar entitled “Malaysia’s Readiness for MSNR Towards EUDR” that was organised in conjunction
Malaysian Rubber Exchange Annual Dinner 2024 From left to right: Ms. Flora Susan (Chief Executive Officer of IRCo), Mr. Supadetch Ongsakul (Deputy Secretary General of
The 39th Meeting of International Tripartite Rubber Council (ITRC) 26 – 27 September 2024, Bangkok, Thailand The Senior Officials in-charge of the rubber industry from
The 79th Anniversary of the Independence Day of the Republic of Indonesia CEO of IRCo was honoured to attend the reception of the 79th Anniversary
International Rubber Consortium Limited (IRCo)
2nd floor, Rubber Research Institute of Thailand,
50 Phaholyothin Road, Ladyao, Chatuchak, Bangkok 10900, Thailand
Chief Executive Officer
Assistant Secretary
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