MARKET COMMENTARY
TOCOM rubber futures are poised to post gains for the second successive week. However, in this last trading day of this week, the benchmark August rubber futures edged down tracking losses on SHFE rubber futures as investors grew wary of China economic growth momentum.
In the Indian market, the commodity traded rather steady on Thursday. Subdued demand continued to restrict advances, while positive cues from the overseas natural rubber market along with falling supplies to the market lend firm support.
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Japan’s crude rubber stocks totaled 13,887 metric tons as of February 10, up 7.9% from 12,870 tons as of January 31, data from the Rubber Trade Association of Japan showed.
Indian Rubber Institute would conduct an international rubber conference, Rubbercon, in Chennai from March 1 to 3.
Thailand’s military-led government on Tuesday approved about 87 billion baht ($2.43 billion) in loans to help farmers who have been hit hard by falling commodity prices and widespread drought.
TOCOM February rubber futures expired with 156 lots (1 lot=5tonne) being delivered compared to 131 delivered in January.
According to the Rubber Board, natural rubber imports in the country Jumped 21 per cent in January to 35174 tonnes compared to a year ago while production was 56000 tonnes, down 3.4 percent.
Crude rubber inventories at Japanese ports stood at 12,870 tonnes as of Jan. 31, up 11.8 percent from the last inventory date, data from the Rubber Trade Association of Japan showed.
Kerala government allocates five billion rupees for rubber farmers in the 2016-17 Budget.
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Geofin Comtrade
