MARKET COMMENTARY
Natural rubber in the major overseas market jumped on Thursday. TOCOM rubber futures gained more than two percent, while SHFE rubber futures stretched gains probably tracking overnight gains in crude oil and positive cues from China.
The commodity in the local market, meanwhile, took a breather after the recent surge. In the physical market, quotes for RSS4 stayed in the vicinity of two-and-a-half month highs and on NMCE, it ended the session tad down on Wednesday.
MARKET NEWS
Vietnam will export an estimated 427,000 tonnes of rubber in the first half of this year, up 3.1 percent from the same period last year according to country’s General Statistics Office.
According to the Rubber Board, natural rubber production in India declined 2.5 per cent on year-on-year basis in April to 39000 tonnes.
Malaysian government announces RM500 cash aid for rubber smallholders and rubber tappers.
The Rubber Board has started a Call Centre at its Head Office to work as a centralized contact centre for receiving to telephone calls from the public seeking information about the services of the Board and also technical advice regarding cultivation, production, processing etc. of rubber.
Global natural rubber output could rise just 0.3 percent in 2016 from a year ago as drop in yields are seen offsetting expansion in the tapping area, the Association of Natural Rubber Producing Countries (ANRPC) said in a statement. Production from the ANRPC members, which together account for about 92 percent of global output, could rise to 11.07 million tonnes in 2016 from 11.04 million tonnes a year ago, Sheela Thomas, secretary-general of the ANRPC said.
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Geofin Comtrade
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