Shortage of rubber raw materials Tire manufacturers plan to increase selling prices

Due to the shortage of rubber raw materials for the manufacture of tires, the continuous rise in prices caused the profit of the tire traders to shrink, causing tire traders to increase their prices, which led to the recent increase in the selling prices of international tires. There may be a wave of price increases in the coming months. It is said that the main reason for the shortage of rubber raw materials is that many producing areas are affected by the climate of drought and heavy rain, and the final result is an increase in prices.

According to Bloomberg's report, due to weather factors, rubber origins such as Thailand, Indonesia and Russia indicated that the actual number of harvests could not reach the originally forecasted quantity, leaving a shortage of rubber raw materials. Last year there was a surplus of 237,000 kilograms of rubber, and this year it is expected to have a shortage of 60,000. Von Bundit Co., Thailand's largest rubber manufacturer, said that it is expected that the shortage of global rubber production will continue for two years. Due to the drop in raw materials supply, Bridgestone, Goodyear and Cooper Tire have announced that they will again increase their tire prices in October.