Bangkok, "Sri Trang Group" launches "Grade Tires" or "GPS Tires" that can trace back the source of rubber 100%, while executives look at the overall natural rubber industry in 2024. Grow from recovering demand in Europe and the United States. Target total rubber sales volume this year at 1.5 million tons, an increase of 15%. Sri Trang Agro-Industry Public Company Limited or STA, the world's largest integrated natural rubber business leader and the largest rubber glove producer in Thailand, launches "Grade-rated rubber" or "GPS rubber" by Mr. Nakorn Takwiraphat, Governor of the Rubber Authority of Thailand (RAOT), joined to update the situation of EUDR regulations and express his vision about GPS coordinated rubber. How will it affect the Thai rubber industry and EUDR regulations for farmers and rubber traders to listen to, with the Governor of RAOT saying that Thailand gives importance to this matter. We have an advantage over many countries because there are few countries that have a government agency that specifically regulates rubber, allowing us to drive policy quickly. Currently, the European Union is interested in the issue of "rubber has Coordinates' We are confident that we are on the right path. Mr. Veerasit Sincharoenkul, President and Executive Director, revealed that the Sri Trang Group has launched "Tires with GPS coordinates" to show readiness to respond to measures or laws from around the world that require traceability of the source of rubber. Natural rubber for sale and demonstrates its stance on conducting business in a sustainable, transparent and verifiable manner. Currently, the company It is ready to support the enforcement of the European Deforestation-Free Product Law or the EU Deforestation Regulation (EUDR), which is expected to come into force as the first region by the end of 2024, which will result in rubber exports. Natural and processed products from natural rubber to Europe The source must be verified to confirm that it is not in an area involved in deforestation and encroachment on reserved forests. Sri Trang Group is ready to promote the development of Thailand's rubber industry at the international level. There must be a traceability system. (Traceability) The source of rubber is 100% in order to raise the level of the Thai rubber industry to be above the standards of other countries. Therefore, "Rubber with GPS coordinates" will be another key that helps push Thailand to become more strong. The 'Rated Tires' will not only meet the needs of the European market, but the 'Rated Tires' will be able to meet the needs of markets around the world. Ms. Paphawee Srisutthiphong, Business Development and Partnership Manager, Sri Trang Agro-Industry Public Company Limited, said that 'GPS coordinated rubber' is natural rubber, such as cupped rubber, fresh latex, rubber. Sheets, etc., that can identify or trace back the source of the rubber to which plantation and whose plantation it belongs to, which must be a plantation that is legal. The goal is to number 100,000 farmers and rubber traders who will produce rubber coordinated with Sri Trang by the end of 2024 and expand to 220,000 by the end of 2025. Mr. Veerasit mentioned the overall picture of the natural rubber industry in 2024 that it is likely to grow from the previous year. There are encouraging factors from rubber demand in Europe and the United States that is beginning to recover. In addition, there is concern about the El Niño phenomenon that will cause rain to decrease and affect rubber production entering the market. In addition, if the economic situation in China begins to recover, it will be a factor that has a positive effect on the overall demand for the rubber industry. nature Because China is the world's largest consumer of rubber. Meanwhile, the price situation for natural rubber has gradually increased since the end of last year. The average price of TSR 20 rubber at the SICOM market in January - February 2024 is 152.7 - 155.1 cents per kilogram. This increased from the December average price of 145.4 cents per kilogram. or e quivalent to an increase of approximately 5-7% The company has set a target for sales volume of all types of rubber in 2024, totaling 1.5 million tons, an increase of 15% from last year's total sales volume of 1.3 million tons, focusing on managing rubber stocks to meet demand. and increase production efficiency By continually bringing additional automation technology into use within the factory. It also aims to expand the business to grow. There is an expansion of production capacity in Thailand. and opened a raw material purchasing center in Ivory Coast in West Africa This is an area with potential for growth in rubber production. Along with preparation for traceability. Source: Thai News Agency