MARKET BUZZ
Benchmark TOCOM rubber futures rose more than 2 percent in early trade on Wednesday as a 3.5 percent plunge in the previous session aided buying. (Reuters)
Prices of natural rubber fell in the key spot markets of Kerala on Tuesday, in line with the trend on the Tokyo Commodities Exchange, traders said. Price of the widely-traded RSS-4 grade rubber settled at 137.50 rupees per kg today, down 0.50 rupees, in both Kottayam and Kochi, according to data from Rubber Board. Tepid demand from tyre companies also weighed on prices in the spot market, traders said. (Cogencis)
The country’s natural rubber production in November was at 63,000 tn, up 18.9% from a year ago, according to a release by the Rubber Board. The total output in Apr-Nov was at 428,000 tn, up 12% from 382,000 tn a year ago, the release said. If the current trend in production continues, rubber output in the current year (Apr-Mar) is likely to reach 654,000 tn, it said. (Cogencis)
Indonesia state plantation holding PT Perkebunan Nusantara III (PTPN III) said on Monday it expects between a 15 percent to 22.5 percent increase next year in the output of the commodities it cultivates, such as palm, rubber and sugar cane. For 2016, PTPN III estimates it will produce 2.9 million tonnes of palm oil, 172,191 tonnes of rubber, and 944,546 tonnes of white sugar. (Reuters)
Vietnam, the world’s third-largest rubber producer, may join in with other major producers to reduce its output in a bid to push up prices. (The Jakarta Post)
Rubber Board expects the natural rubber (NR) exports from India to touch 5000 tonnes this fiscal with international prices ruling over the domestic prices. (Rubber Board)
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Geofin Comtrade
