According to the National Bureau of
Statistics, China’s inflation at the wholesale level, dropped 2.8% y-o-y in
October, compared to 3.6% decline in September. But the rate of the PPI inched
up 0.2% in October on m-o-m basis. The PPI figures show that the economy is
rebounding slightly but still at a low level.
Malaysian Rubber Glove Manufacturers Association
wants the government to defer the implementation of the minimum wage policy,
which will be implemented w.e.f 1st January 2013. There will be a cost increase
of RM500 for each unskilled worker and majority of them are foreign workers. The
country has about two million foreign workers and that would translate into
about RM12 billion a year.
Natural rubber tapping in India is going on
smoothly. Rubber production peaks during October-January and starts falling
from February. Some farmers are holding back material, but supplies are
sufficient due to increase in imports. Tyre makers are placing more orders.
They are building inventory, which indicates that there is a possibility of
natural rubber prices further going down, estimated to touch a level of `.169
a kg.
Natural rubber imports in the first seven
months of the current financial year rose nearly 31.3% compared to same period
of 2011-12 to 130,966 tonnes. There is possibility that natural rubber imports
could touch 218500 tonnes mark, which was forecasted in Rubber4U-15th August
2012 issue.
Read
lot more in Rubber4U – 15th November 2012 issue
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