Wednesday, October 8, 2014

Meeting to plan out revival strategy


Major rubber producing countries are still looking for solutions. The Association of Natural Rubber Producing Countries will meet on 13th October in Kuala Lumpur; while, Malaysia is also proposing to preponed International Tripartite Rubber Council meeting scheduled for 12th December to sometime in early November to resolve issues related to rubber industry.

The Malaysian Rubber Glove Manufacturers Association has urged the government to provide tax breaks in Budget 2015 to encourage rubber glove sector to be more aggressive in implementing more automation and creation of proprietary technology.

On 7th October, benchmark RSS4 grade rubber closed at `.121 a kg at Kottayam, while today RSS3 grade closed at `.95.76 a kg at Bangkok and Malaysian SMR20 closed at `.87.77 a kg. On National Multi Commodity Exchange October 2014 futures were trading at `.122.15 a kg, November at `.119.95, December at `.119.65 and January 2015 at `.119.79 a kg at 12.30 IST. Tokyo Commodity Exchange, October 2014 futures series closed at ¥173.6 a kg, November at ¥175.9, December at ¥178.4, January 2015 at ¥181.1, February at ¥181.8 and the contract for delivery in March 2015 closed at ¥181.1 a kg.

For 2014-15 Rubber Forecast, http://rubber4u.com/Public/RForecast.pdf

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