Japanese based Yokohama Rubber announced
start of commercial production at its plant with an investment of over `.300
crore in India at Bahadurgarh-Haryana, which has an installed capacity of 2,000
tyres per day. Indonesian Rubber Association makes a second appeal to its
members to impose strict limit on sales until the second quarter of 2015, while
Malaysian government has allocated 100 million ringgit to support rubber
farmers and a subsidy programme will be activated when the price of SMR20 grade
rubber falls to 4.60 ringgit per kg. Thailand, Indonesia and Malaysia are likely
to meet on 20-21 November to discuss plans to set prices together and reduce
supply. Rubber inventories in warehouses monitored by the Shanghai Futures
Exchange rose 1.3% to 173792 tonnes last week.
Ahead of the peak season in India, the rubber
prices are likely to remain subdued as tyre manufacturers have already
stock-piled for most of the requirements. The Kerala State Co-operative Rubber
Marketing Federation Limited has begun procuring RSS-4 and 5 grade rubber
directly from farmers by providing `.5 per kg more than
the rates fixed by Rubber Board, under the Kerala Government’s rubber
procurement scheme. A sub-committee of the panel to formulate National Rubber
Policy is meeting in Kochi this week, which among other things would discuss
steps to boost domestic demand for rubber and protect farmers from steep fall
in rubber prices.
According to Malaysian Rubber Board director general
Datuk Dr Salmiah Ahmad, the demand for natural rubber next year is expected to
be higher than the supply and natural rubber prices, which are at their
five-year low now, are expected to strengthen next year
According to the latest information, the benchmark
RSS4 grade rubber closed at `.120 a kg at
Kottayam, while RSS3 grade closed at `.101.07 a kg at
Bangkok and Malaysian SMR20 closed at `.92.69 a kg. On
National Multi Commodity Exchange November 2014 futures closed at `.120.95
a kg, December at `.118.72, and January 2015 at `.119.47
a kg. Tokyo Commodity Exchange, November 2014 futures series closed at ¥189.9 a
kg, December at ¥193, January 2015 at ¥195.2, February at ¥198, March at ¥199.9
and the contract for delivery in April 2015 closed at ¥200.8 a kg. On Monday,
most probably Tocom futures contract for delivery in April 2015 may trade
between ¥198 & ¥204 a kg.
For
2014-15 Rubber Forecast, http://rubber4u.com/Public/RForecast.pdf
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