This entry was posted on Monday, January 25th, 2010 at 7:17 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
SINGAPORE (Dow Jones)–Fundamentals are favorable for natural rubber prices to stay bullish, Djoko Said Damardjati, secretary general of the Association of Natural Rubber Producing Countries, said Monday.
ANRPC member countries control around 94% of the world”s natural rubber output.
He said media reports earlier this month that major producing countries are planning to release 300,000 metric tons of natural rubber in the market are baseless.
“None of the natural rubber producing countries presently hold any buffer stock of natural rubber,” Djoko said in the ANRPC”s monthly report released worldwide Monday.
Djoko expressed concern that such misleading reports of a non-existent buffer stock are affecting prices.
Source: Dow Jones