Thai Rubber Stocks Jump as Domestic and Global Prices Surge

The share price of rubber stocks rose on Friday, following a rise in domestic prices that hit 41-month high and also the global benchmark for rubber that continues to rise as well.

Price of rubber traded through the Central Rubber Market Office of the Rubber Authority of Thailand (RAOT) as of 7 March 2024 exceeded 80 baht to 81.09 baht/kg., which is the highest price in 41 months. The Office believes that the price will continue on an uptrend moving forward.

Meanwhile, the Rubber RSS3 Futures rose to SG$224.90, up 2.55% on 6 March, the highest level in 12 years. As for Rubber TSR20 Futures, the benchmark rose 0.31% to SG$159.30 on 6 March after a series of declines for six-straight sessions. Still, the benchmark is also hovering around 12-year high as well.

As of 15:47 Bkk time on Friday, the share price of rubber traders in the Thai stock market edged higher as North East Rubber Public Company Limited (SET: NER) rose THB0.15 or 2.63% to THB5.85 per share.

Sri Trang Agro-Industry Public Company Limited (SET: STA) increased THB0.80 or 4.15% to THB20.10 per share.

Thai Rubber Latex Group Public Company Limited (SET: TRUBB) gained THB0.05 or 3.85% to THB1.35 per share.

Thai Eastern Group Holdings Public Company Limited (SET: TEGH) edged THB0.12 or 3.85% higher to THB3.24 per share.