Though rubber exports have been lower, Rubber
Board's efforts to promote the brand Indian National Rubber (INR) in the
international market has met with success, as 56% of the total exports have
been INR brand. The poor quality of the rubber sheets supplied by the domestic
producers has been one reason for the user industry to go for imports. The
board is now keen to replicate the success story in the domestic market by
launching a series of branded high quality sheets through a company promoted by
it in Nilambur in Malappuram district in Kerala and the brands are expected to
give a competitive edge in the market.
Today, a thirty one member delegation from
Philippines Rubber Marketing Mission led by Sakiram A. Hajan, Dy. Minister of
the Department of Trade & Industry visited Rubber Board to learn the
activities of the Board in agricultural expansion, research and other areas. They
also visited laboratories of the RRII and on their way back to Philippine, the delegation
will visit All India Rubber Industries Association, Indian Rubber Manufacturers
Research Association and few other rubber manufacturing units in Mumbai.
Latex prices are rising faster than rubber
sheet due to drought in Southeast Asia, which in turn will help in cutting
supplies. Buyers are accelerating purchases in anticipation of shortages during
wintering. Rubber export prices from Thailand most probably will advance.
Production in Thailand, Indonesia and Malaysia may drop because of exceptional
dry weather.
On Monday, the benchmark RSS4 grade rubber
closed at `.147.50 a kg at Kottayam. RSS3 grade closed at `.139.77
a kg at Bangkok and Malaysian SMR20 closed at `.117.24 a kg. On Tokyo
Commodity Exchange, March 2014 futures series closed at ¥240.1 a kg, April at
¥242.2, May at ¥242.9, June at ¥235.3, July at ¥233.1, and the contract for
delivery in August 2014 closed at ¥232 a kg. While on National Multi Commodity
Exchange, April 2014 futures closed at `.146.51 a kg, May at `.149.89,
June at `.152.27 and July at `.153.25 a kg.
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