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Title: Factors affecting natural rubber prices in Thailand

Authors: Part Sungkaew

Addresses: Department of Social Science, Faculty of Applied Arts, King Mongkut's University of Technology North Bangkok, Thailand

Abstract: This study examines the role of factors affecting natural rubber prices in Thailand. The statistical results confirm that the rubber price is influenced by both domestic and external factors. The results indicate that the volume of rubber stock both inside and outside the country has the greatest effect on domestic natural rubber prices. Moreover, the domestic natural rubber price is also influenced by the market of buyers both inside and outside the country. Finally, according to the empirical analysis, it can be summarised that the rubber market in Thailand is a buyer's market (Monopsony). Although Thailand is the world's biggest producer of rubber, it still relies mainly on foreign sectors.

Keywords: natural rubber; rubber price; rubber market; Monopsony; Thailand.

DOI: 10.1504/IJEBR.2024.138077

International Journal of Economics and Business Research, 2024 Vol.27 No.3, pp.489 - 510

Received: 13 Sep 2023
Accepted: 21 Nov 2023
Published online: 21 Apr 2024 *