A senior Thai official said on Monday that the Thai government had approved a plan to sell 200000 tons of rubber inventory to ease price pressure and reduce storage costs.

Insiders said that this move may continue to suppress rubber prices. Global rubber prices have fallen by more than 25% this year, weighed down by oversupply and concerns about demand in China, the number one rubber consumer.

According to the data, Thailand is the world's largest rubber producer and exporter, producing 4.2 million tons of rubber in 2013, of which 3.7 million tons were exported.

Source: China Securities Network