Thailand is expected to produce some 4.9 million tonnes of natural rubber throughout this year, said Rubber Authority of Thailand (RAOT) Governor Nakorn Tangavirapat on Saturday.
Of the total natural rubber production projected, some 4.18 million tonnes are bound for export to world markets including China and Britain, Nakorn said.
An estimated 11.2 billion US dollars in value of rubber export is expected throughout this year, reports Xinhua citing the RAOT governor.
Meanwhile, he said the rubber prices at domestic markets may rise up to 80 baht (about 2.65 US dollars) per kilogram by the end of this year due in part to China's increased manufacturing of automobile tires, rising external demands for latex gloves in the face of the global pandemic and the reduced volumes of rubber production in Indonesia and Vietnam.
The natural rubber is currently selling for an average of 66.76 baht (about 2.21 US dollars) a kilogram at domestic markets.