Donald Trump has emerged as the 45th
president of the United States of America. If Trump decides to implement his
15-point agenda, it could impact the India in several ways.
The UK manufacturing sector maintained a
solid rate of expansion at the start of the final quarter of 2016, according to
the latest CIPS Purchasing Managers’ Index (PMI). A major feature of the latest
survey was the effect of the depreciation of the sterling exchange rate.
Manufacturers reported that this aided efforts to increase inflows of new
export business, resulting in new orders from the US, the European Union and
China.
India is expected to push for a new approach
to tariff cuts at the 16 country trade bloc to prevent China from flooding its
market with cheap goods. The commerce department is working on ways to give
minimum tariff concessions to Chinese goods and delay the concessions by a long
number of years even as it allows imports from other member countries at lower
duties.
International prices for natural rubber have
climbed to a six-month high, with benchmark futures prices on the Tokyo
Commodity Exchange up 40% from the recent low in August 2016. Today, Tocom
contract for RSS3 rubber sheets for April 2017 delivery closed at ¥198.6 per kg.
Synthetic rubber spot prices have been on an upward trend since August due to
rising prices for the raw material butadiene, supporting push up the price of
natural rubber. China is experiencing strong new car sales in the wake of cuts
in vehicle taxes.
The Annual general body meeting of All
Karnataka Rubber Planters Association (KRUPA) will be held at Jain Bhavan at
Puttur-Karnataka on 11th November. The meeting will discuss and strive to
mitigate woes of rubber growers' in Karnataka, which is going through a crisis
with crash in price of natural rubber and also suffering from lack of support
from the government. The association hopes that Rubber Board chairman - Ajith
Kumar, who will inaugurate the conference will provide a vision and direction
to the beleaguered rubber growers.
The benchmark RSS4 grade rubber closed at `.117.50
a kg at Kottayam, while RSS3 grade closed at `.120.40 a kg at
Bangkok and Malaysian SMR20 closed at `.107.58 a kg. On
National Multi Commodity Exchange November 2016 futures were trading at `.124.49
a kg, December at `.127.20, January 2017 at `.129.50 and February at
`.132.31 a kg. Tokyo Commodity Exchange November 2016
futures series closed at ¥190.4 a kg, December at ¥192, January 2017 at ¥194.6,
February at ¥195.4, March at ¥195.6 and the contract for delivery in April 2017
closed at ¥198.6 a kg.
For 2016-17 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf
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