This entry was posted on Wednesday, June 10th, 2015 at 8:53 am 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.
MARKET COMMENTARY
On Tuesday, natural rubber is seen stretching losses in the major overseas market. TOCOM rubber futures were down nearly one per cent tracking weakness in SHFE rubber futures and on strengthening yen. Worries over demand from China following weak economic indicators continued to weigh on overall market sentiments. In the meantime, natural rubber stayed firm in the local market. RSS4 in the physical market was hovering above Rs.129 a kg while it ended the flat on NMCE platform in lackluster trades. Limited supplies to the market and concerns over decline in natural rubber production lend firm support though declines in the international market capped gains.
MARKET NEWS
?Kerala State Agriculture Minister says government soon to hold discussions with stakeholders on the problems faced by the rubber growers.
? Viet Nam’s natural rubber exports in the first five months of this year reached a volume of 330,000 tonnes worth US$475 million, according to the Ministry of Agriculture and Rural Development.
?China imports of natural and synthetic rubber tumbled 20 per cent in May on YoY basis to 280000 tonnes according to preliminary trade data released by the country’s General Administration of Customs.
?IMDdeclared the onset of Southwest monsoon in Kerala on June 5, four days behind the normal schedule.
?Rubber inventories in the warehouses monitored by SHFE rose 3.0 per cent to 133630 tonnes, weekly data from the exchange showed.
?According to a study conducted by Rubber Research Institute of India, occurrence of extreme temperature are becoming more frequent in the recent years in Kottayam, the major rubber growing area in Kerala and impact of changing climate in this region may seriously affect rubber cultivation. The study showed that the frequency of occurrence warming days has increased, which could adversely affect productivity.
?Japan’s crude rubber stocks totaled 12,225 metric tons as of May 10, up 3.4% from 11,825 tons as of April 30, data from the Rubber Trade Association of Japan showed.
?According to a report appeared on Bangkok Post, Thailand Ministry of Natural Resources and Environment will begin operation June 1st to recover 640000ha of land which have been illegally converted into rubber plantation.
?By May 15, the rubber inventories in Qingdao tariff-free area stood at 195000 tonnes, down 8.4 per cent from the end of April.
Source: Geofin Comtrade