Songkhla:Rubber farmers in Songkhla are experiencing a significant economic boost as rubber prices have surged to nearly 90 baht per kilogram, marking the highest level in 20 years. This price surge brings renewed optimism and smiles to the faces of local farmers.
According to Thai News Agency, the director of the Songkhla Central Rubber Market forecasts that the elevated rubber prices will continue until the first quarter of 2027. This prediction is based on current market trends and demand factors.
Farmers in the Thung Yai Subdistrict of the Hat Yai District have been actively transporting latex from their plantations since early morning following an overnight harvest. The price rise, which started at the beginning of the year from an initial 30-50 baht per kilogram to now nearly 90 baht, represents the most substantial increase in over two decades.
The director of the Songkhla Provincial Central Rubber Market has identified various factors driving the high demand for natural rubber, notably from Chinese industries. China accounts for approximately 70% of the rubber consumption, significantly influencing the market dynamics and sustaining the price surge.