Key Takeways
The Thai government has upgraded rubber quality standards to meet the EU’s Regulation on Deforestation Free Products (EUDR), resulting in the highest rubber prices in 12 years. This initiative aims to enhance the livelihoods of rubber farmers and improve data management in the industry.
Starting as a pilot in April 2024 at Surat Thani rubber central market, the auction price for EUDR grade 3 rubber reached 96.66 baht per kilogram. The price surge reflects the government’s success in accessing the EU rubber market.
- The Thai Rubber Trade (TRT) system ensures traceability of rubber production, boosting buyer confidence. Prices are projected to exceed 100 baht per kilogram, showcasing the government’s commitment to supporting rubber farmers.
The government has successfully upgraded rubber quality standards to comply with the Regulation on Deforestation Free Products (EUDR) of the European Union (EU), pushing rubber prices to the highest level in 12 years. This achievement is part of the government’s policy aimed at improving the quality of life for rubber farmers and promoting better data management among rubber growers and Thai rubber businesses in accordance with the the EUDR and other international standards. The initiative began with a pilot project at the Surat Thani rubber central market in April 2024.
The Surat Thani Rubber Central Market reported that the auction price for RSS (ribbed smoked sheets) (EUDR) grade 3 through the Thai Rubber Trade (TRT) system reached a record high of 96.66 baht per kilogram, the highest price in 12 years since 2012. The increase in smoked sheet rubber prices is attributed to the government’s efforts to open the EU rubber market, which adheres to EUDR standards. The TRT system can systematically trace the rubber production of each member, allowing for clear traceability of every rubber batch, which has built buyer confidence. It is anticipated that prices will reach 100 baht per kilogram, marking a significant achievement from the government’s dedication to supporting rubber farmers.
Additional information: Tourism Authority of Thailand (TAT)
Tel: 0 2250 5500
