NR production marginally down and anti-dumping duty extended

According to Association of Natural Rubber Producing Countries, due to heavy rainfall in major rubber growing areas of Malaysia and China, the global natural rubber production is marginally lowered to 10.420 million tonnes in 2012 against the earlier estimates of 10.529 million tonnes. The dip in rubber production may not affect the price of the commodity as the present demand scenario is very weak due to Euro-zone crisis and slow export demand from China.

According to a notice from the Ministry of Finance, India extended anti-dumping duties on imports of non-radial tyres used in buses and trucks from China and Thailand until 7^th October 2012. (for more details, visit: www.rubber4u.com)

Today, RSS4 grade closed at `199 a kg at Kottayam and RSS3 grade closed at `200.80 on 5^th April at Bangkok. Rubber for April delivery on Tokyo Commodity Exchange closed at ¥309.7 per kg and in India’s National Multi commodity Exchange the commodity closed at `.197.78 per kg.