Thursday, July 11, 2013

Production down, prices moves up


India’s natural rubber production fell 12.9% to 54,000 tonnes, while consumption also fell 2.3% to 82,000 tonnes in June 2013, when compared to same month of 2012. Natural rubber imports fell 4.97% to 19,695 tonnes in June, compared to same month of 2012.

In the Indian market, shortage of natural rubber and decrease in production has pushed up the prices. At Kottayam, RSS4 grade closed at `.195 a kg, while RSS3 grade closed at `.154.10 a kg at Bangkok and Malaysian SMR20 closing at `.131.69 a kg. On the Tokyo Commodity Exchange, July futures series closed at ¥240.4, August at ¥241.5, September at ¥243, October at ¥243.7, November at ¥244.7 and the contract for delivery in December closed at ¥245.1 a kg. While on the National Multi Commodity Exchange July futures were trading at `.193, August at `.188.15, September at `.179, October at `.171.99, November at `.166 and December at `.169 a kg.

Read lot more in Rubber4U – 15th July 2013 Anniversary issue

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