China’s Slowing Demand for Tires Sparks Thai Rubber Makeover
- About 80% of Thai rubber is exported as a low-value commodity
- Alternate uses will buffer farmers from international prices
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Condoms and car tires helped make Thailand a $6 billion latex powerhouse. Now, the industry wants to plaster the plant material on faces and use it to stop coastal erosion in a makeover designed to keep more rubber profits at home.
Thai rubber, which has traditionally ended up in foreign tires, gloves, and other manufactured products, is reeling from slowing car sales in China, the world’s top consumer. Futures prices for the commodity are up 17% this year after sliding in five of the previous six years.