Today natural rubber prices in Malaysia, Thailand and Tokyo increased, due to better economic data from the U.S. On 1st October, we have forecasted that if Indian Stock Market opens in red on 3rd October, one can expect domestic natural rubber prices moving towards north. In the next week increasing demand may push the natural rubber prices up.
After agreeing to set a benchmark price, Thailand has set a minimum natural rubber price of $3.86 per kg and the country is considering cutting down older rubber trees in a move to reduce production and improve price.
Today, the price of RSS3 grade natural rubber in the international market at Bangkok closed at Rs 203.91 per kg., SMR-20 closed at 204.71 a kg at Kuala Lumpur and on the other hand domestic RSS4 grade closed at Rs. 211 a kg at Kottayam. At the National Multi Commodity Exchange (NMCE), rubber future prices for October delivery closed at Rs 214.47 per kg and at Rs. 215.51 per kg for March 2012 delivery. At Tokyo Commodity Exchange futures prices for October delivery closed at 308.10 yen/kg and 315.20 yen/kg for March 2012 contract.
Read lot more in Rubber4U – 15th October 2011 issue
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