Attempted coup in Thailand unlikely to have lasting effect on NR market

Bangkok -- All forward offers for Thai natural rubber contracts were withdrawn after the country's military staged a coup d'etat in the capital.

Representatives of the Thai rubber trade, however, said they did not expect civil war to break out, even as the country's prime minister Thaksin Shinawatra declared a state of emergency.

The Thai military circled government buildings with tanks and seized control of television stations, declaring 78-year-old constitutional monarch King Bhumibol Adulyadej as head of state.

"This probably will work itself out in a day or two," said one source in the Thai rubber industry, who asked to remain anonymous.

The local stock market fell on news of the coup, as did the value of the Thai baht on world markets.

From Rubber & Plastics News (A Crain publication)