The Rubber price is likely to be higher this
week on supply concern following the report of wintering and dry season in the
major growing countries. Natural rubber production from world's biggest growers
may slowdown this year while demand to climb up on cooling global economic
crisis.
Recent encouraging performance by major car
companies and demand from the automobile market has improved, though it is yet
to reach full throttle. According to Rubber Board, India is expected to produce
9.02 lakh tonnes of natural rubber, while consumption is estimated at 9.66 lakh
tonnes during the current fiscal.
India's natural rubber imports in January
surged 223% to 26,375 tonnes, while production rose 3.7% to 102,500 tonnes,
when compared to same period of previous year. While consumption during the
month stood at 82,000 tonnes compared with 81,000 tonnes in January 2011. According
to the traders the market is still short of rubber as growers hold stocks in
anticipation of better prices.
Sheet rubber closed at Rs 188.50 a kg, at
Kottayam. On 10th February RSS 3 dropped to Rs 202.89 from Rs. 203.28
a kg at Bangkok. The February futures for the grade declined to ¥300.4 from
¥304 a kg, March at ¥304, April at ¥307.1, May at ¥311.2, June at ¥314.1 and July
at ¥316 were trading in the current session on the Tokyo Commodity Exchange.
Read
lot more in the latest issue of Rubber4U
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