BANGKOK, April 29 (Reuters) - Thai rubber prices are expected to hover around $2.70-$2.90 a kg for the rest of the year, about 22 percent higher than the average price last year, as India and China are likely to step up imports, a leading industry official said on Tuesday.
“India will import more and China is expected to come back to the market, after a slower second quarter,” Sang Udomjarumani, chief executive officer of the International Rubber Consortium Limited, told Reuters.
“Supplies are not going to grow at the same rate. Thailand had a second wintering season in some areas. High oil prices are even pushing up the price of synthetic rubber,” he added. (Reporting by Apornrath Phoonphongphiphat; Writing by Sambit Mohanty; Editing By Ovais Subhani)
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