Aim to develop rubber industry

Malaysia and Thailand have agreed to co-operate on the Rubber City project located on the Thai-Malaysian border, aimed at developing the rubber industries of both countries. Under the proposed project, a city would be created in the border area linking Dan Prakob in Songkhla's Na Thawee district and Kota Putra in the Malaysian state of Kedah. Malaysia wants Thailand to supply raw materials to support its industries producing items such as rubber gloves and tyres.

According to latest data, there is an improvement in China’s economy; which in turn boosting speculation that rubber demands will grow from the largest consumer. Natural rubber consumption will climb 1.5% this year and 4.1% in 2014 from 11.04 million tonnes in 2012. According to experts rubber demand for tyres are expected to grow 3.5% a year to 2020.

Today, RSS3 grade closed at `.155.35 a kg at Bangkok, while Malaysian SMR20 closed at `.143.53 a kg. On the Tokyo Commodity Exchange, October futures series closed at ¥242.8 a kg, November at ¥244.5, December at ¥247, January 2014 at ¥249.8, February at ¥252 and the contract for delivery in March 2014 closed at ¥254.3 a kg. While on the National Multi Commodity Exchange October futures were trading at `.166.49 a kg, November at `.165.99, December at `.168 and February 2014 at `.172.97 a kg at 12.10 pm IST.

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Read lot more in Rubber4U – 15th October 2013 issue