Thursday, February 23, 2017

NR output up in January 2017

In January 2017, India’s natural rubber production increased by 26.92% to 66,000 tonnes from 52,000 tonnes output in January 2016, as farmers increased tapping to cash in on the price rally. While the consumption of natural rubber declined marginally by 1.03% to 84,000 tonnes from 84,875 tonnes in January 2016.

Imports fell by 39.02% to 24,093 tonnes from 39,512 tonnes in the same month of 2016, as tyre makers trimmed overseas purchases due to a rally in global prices. Natural rubber prices in the domestic market jumped to their highest levels in three years following a surge in overseas prices due to supply disruptions in Thailand.

The stocks at the end of January 2017 stood at 2.77 lakh tonnes.

The benchmark RSS4 grade rubber closed at `.158.50 a kg at Kottayam, while RSS3 grade closed at `.175.18 a kg at Bangkok and Malaysian SMR20 closed at `.144.24 a kg. On National Multi Commodity Exchange futures series closed for March 2017 closed at `.155.99 a kg, April at `.163.07 and May at `.168.52 a kg. Tokyo Commodity Exchange March 2017 futures series closed at ¥302.6 a kg, April at ¥289.7, May at ¥283.3, June at ¥275.2, July at ¥269.7 and the contract for delivery in August closed at ¥269.4 a kg.

To read Rubber4U – 1st March 2017 issue:
For 2016-17 Rubber Forecast: