MARKET BUZZ
Benchmark TOCOM rubber futures rallied to a near four-year high on Thursday, extending gains into a third day, boosted by supply concerns after flooding hit a major rubber-producing area in Thailand, the world’s biggest rubber producer. (Reuters)
Prices of natural rubber rose today in Kottayam and Kochi, the key wholesale markets in Kerala, because of a rise in prices in international markets and an increase in domestic demand, traders said. Prices rose on concerns over supply from flood-hit Thailand, the largest producer and exporter of natural rubber in the world, they said.
RSS-4 grade rubber, the most traded variety, was at 143 rupees per kg in both Kochi and Kottayam, up 2 rupees each from Tuesday, according to data from the Rubber Board. (Cogencis)
Record rainfall in Thailand, in south-east Asia, has caused flooding and devastation. The rain isn’t expected to stop for at least two more days, according to Thailand’s weather department, who warn more flash floods may be on the way. (BBC)
China imported 560,000 tons of natural and synthetic rubber in November, 2016, a rise of 42.8 per cent from the same period of 2015, according to data from the General Administration of Customs. During the first 11 months of this year, aggregate import volume of natural and synthetic rubber was 5.08 million tons, representing a year on year gain of 23 per cent. (Reuters)
India’s natural rubber consumption rose 13.0% on year to 88,000 tn in November, from 77,880 tn, according to data released by the Rubber Board today. The country’s imports of natural rubber rose sharply from a year ago despite a rise in production. India’s natural rubber imports were 43,123 tn during November, up 22.4% on year.
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Geofin Comtrade
