The domestic car sales which were lackluster
in the last year festive season are sparkling this year. Festive season is a
period when most car companies see at least 20% growth in sales. The drop in
fuel prices and stable interest rates has increased the consumer confidence. After
a slowdown of almost three years, the industry this year is seeing steady
volume growth every month and auto industry expects the demand to remain strong
during the year ahead.
Thailand Industry Minister Chakramon
Phasukvanich expressed confidence about the short and long term measures taken
by the government to address the low rubber price will be successful. The
government will be removing excess rubber from the market during November and
April, which will be achieved by having six banks providing loans to latex
processing businesses to buy the excess rubber. This measure is expected to
remove 200,000 tonnes of latex from the system and result in an immediate
increase of rubber price.
Today, the benchmark RSS4 grade rubber closed
at `.125 a kg at Kottayam, while Malaysian SMR20 closed at `.96.26
a kg. On National Multi Commodity Exchange November 2014 futures closed at `.125.62
a kg, December at `.124.82, and January 2015 at `.124.99
a kg. Tokyo Commodity Exchange, October 2014 futures series closed at ¥180.7 a
kg, November at ¥184, December at ¥187.3, January 2015 at ¥191.2, February at
¥194.3 and the contract for delivery in March 2015 closed at ¥195.9 a kg.
Tommorrow most probably RSS3 grade may close around `.105.50
a kg at Bangkok and Malaysian SMR20 may close around `.97.60
a kg. While it is expected that Tocom the contract for delivery in March 2015 may
close around ¥200 a kg.
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