Affirms readiness for traceability moves by Europe and the world
Sri Trang Agro-Industry PCL (SET: STA), the world’s leading and largest integrated natural rubber business operator and Thailand’s largest rubber glove manufacturer, began delivery EUDR rubber in May this year to several major branded tire manufacturers in Europe, South Korea, China and other countries, reinforcing the Company’s readiness to support the European measures to trace back the origin of natural rubber – the procedures are expected to come into force by the end of this year. Similar measures are also set to be implemented by countries in other regions around the world in the near future.
Mr. Veerasith Sinchareonkul, STA Managing Director & Executive Director, announced that, in April-May 2024, the Company began to deliver natural rubber compliant with EUDR (EU Deforestation Regulation) to customers who placed their orders by May 2024. STA’s “Traceable Natural Rubber (GPS)” commands higher selling prices than most other sources, with customers consisting of many nationalities from Europe, South Korea, China and other Asian countries where there is a demand for EUDR rubber to be processed into products that will be exported to countries in the European Union in response to upcoming EUDR enforcement expected by the end of 2024. The EUDR will regulate the export of natural rubber and products processed from natural rubber to Europe, requiring traceability verification to ensure that the sources of natural rubber are not involved in deforestation and are not an encroachment of forested areas.
Currently, the Company is fully ready to export all types of EUDR rubber, such as latex concentrates, rubber blocks, rubber sheets, etc., This readiness results from ongoing preparations to support these measures. More importantly, the database management system has been developed in collaboration with farmers and rubber dealers to identify land designated for rubber plantations. This system inputs data into the “Sri Trang Friends of Farmers” application allowing 100-percent traceability of rubber sources. Additionally, the launch of “Traceable Natural Rubber (GPS)” enables direct tracing of produce back to its origins. These initiatives demonstrate the Company’s full readiness to comply with the EUDR requirements from Europe, as well as from other regions in the near future for full traceability of the sources of natural rubber.
“We have been preparing in advance for some time for the exportation of EUDR rubber to countries in the European Union or their trading partners. Our operations place full emphasis on the policy that prioritizes environmental, society, and good corporate governance, together with our stance on conducting business sustainably and transparently, and in compliance with regional regulations. The Traceable Natural Rubber (GPS) will enhance the competitiveness of the Sri Trang Group of Companies while also elevating Thailand’s standards on rubber production above those of other countries’. This initiative will also open up the opportunity to increase Thailand’s trade advantage and leverage higher prices for Thailand-sourced rubber,” Mr. Veerasith added.
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About Sri Trang Agro-Industry PC
Sri Trang Agro-Industry PCL (STA) was established in 1987. With determination and intention, STA has grown and become a fully integrated natural rubber company. For the upstream business, the Company invested in large-scale rubber plantations and currently has an area of 7,500 hectares for rubber and other economic crop plantations in 19 provinces of Thailand. As the world’s largest fully integrated producer and distributor of natural rubber, STA is committed to growing in lockstep with the economic development of the local communities of Thailand.
Sri Trang Agro-Industry PCL: www.sritranggroup.com/en/home [SET: STA][SGX: NC2][FRA: YTAA][OTCPK: SLJUY]
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