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
6 December 2024
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) declined in the beginning of 2Q before rising significantly from 25 April 2024. The positive movement was contributed by the unusually high prices of RSS3 and STR20 compared to SIR20 and SMR20. This increase in RRMP indicates positive sentiment since the first trading day of the year which confirmed the upward trend in the natural rubber market in TIM (Thailand, Malaysia, and Indonesia), the main global producers. The rise is caused by concerns over tight supply and supply chain disruptions. The significant declines in tight supply in natural rubber production in the region was due to erratic and extremely weather conditions.
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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