Sustainability and Competitiveness of Thailand’s Natural Rubber Industry in Times of Global Economic Flux

Abstract

This study assesses economic, legal, and environmental conditions that Thai rubber farmers face, and evaluates actions they can take to increase incomes. Statistical analyses determine relationships between prices of oil, natural and synthetic rubber. Pearson correlation tests found a strong positive relationship (r = 0.887) between the price of Brent crude and Thai ribbed smoked sheets, and a moderate positive relationship between price changes in Brent and synthetic rubber (r = 0.648). Regression analysis showed Brent oil price is a good predictor of natural rubber prices. Moderate to strong positive relationships were also found between natural rubber price and gross domestic product of Japan, China, and the United States. Criminal antitrust behavior in rubber industries appeared to interfere with normal pricing in rubber markets. No significant bivariate correlation was found between rainfall in Thailand and natural rubber price, production, or export although flooding and other environmental issues clearly affected rubber farms. A survey of options showed Thai rubber farmers can improve livelihoods best through collective purchase and use of new technologies, and by integrating into downstream supply chain industries. At very least, farmers are urged to abandon monocrop methods and supplement incomes with fruit, fish, livestock, or pigs. stment budget, 2) architectural Aesthetic, and 3) utilization. Additionally, background of the interviewees is one of reinforcing factors for decision on universal design investment.