Wednesday, February 20, 2019

Indonesia to propose rubber export restriction


According to a senior trade ministry official, Indonesia will propose implementation of the Agreed Export Tonnage Scheme (AETS) and expansion of rubber usage in construction at International Tripartite Rubber Council meeting in Bangkok during 21-22 February, to prop up prices for natural rubber.

After a prolonged delay, Indian Union Ministry of Commerce and Industry has finally prepared and released a draft National Rubber Policy. The draft is put up in the public domain in order to seek wider consultation and feedback/suggestions by 25th February 2019 from the stakeholders so as to provide final shape to the policy.

The benchmark RSS4 grade rubber closed at `.124.50 a kg at Kottayam, while RSS3 grade closed at `.118.36 a kg at Bangkok and Malaysian SMR20 closed at `.102.49 a kg. On ICEX, March 2019, the futures closed at `.127.01 a kg, April at `.130.15, May at `.126.91, June at `.128.17, July at `.129.45 and August closed at `.130.74 a kg. Tokyo Commodity Exchange February 2019 futures series closed at ¥193.5 a kg, March at ¥190.3, April at ¥192.1, May at ¥194.1, June at ¥195.5 and the contract for delivery in July 2019 closed at ¥197.5 a kg. On Thursday, most probably Tocom futures contract for delivery in July may trade in the range of ¥194 & ¥200 a kg.

To read Rubber4U – 1st March 2019 issue: http://rubber4u.com/Public/Abcd.pdf
For 2018-19 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf

No comments:

Post a Comment