Rubber prices made a glorious rebound on 4th February 2011, on strong demand and sharp gains in international and domestic future markets. According to industry experts, prices are set to break current records to create another historic high shortly.
Rubber grade RSS4 was at its all time high of Rs 239/- a kg. in the domestic market. As the growers do not get the international price (currently at Rs. 272/- a kg.) in the domestic market, have slowly started to push the rubber for export with an intention of realizing higher price. In turn, slowly export of rubber is on the rise.
Indian tyre makers bought natural rubber at a record $5.26 per kg on 4th February as farmers squeezed supplies seeking higher prices after a surge in the world markets. Supplies were less than expected as big farmers were not selling. They were anticipating further upside due to rising prices in Thailand.
The July delivery contract reached a high of 504 yen per kg before settling at 502.9 yen on the Tokyo Commodity Exchange. Tight rubber supply due to floods in Malaysia and slow arrivals of USS3 grade raw material in Thailand is also providing support to prices.
Read lot more in Rubber4U – 15th February 2011 issue
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