MARKET BUZZ
Benchmark TOCOM rubber futures inched lower on Tuesday after hitting their highest in nearly four years a day earlier. (Reuters)
Prices of natural rubber rose in both the spot and futures markets on Monday, tracking a four-year high in contracts on the benchmark Tokyo Commodity Exchange, traders said. In the key wholesale markets of Kottayam and Kochi in Kerala, rubber prices rose for the eighth consecutive day to a 33-month high of 149 rupees a kg today. (Cogencis)
Crude rubber inventories at Japanese ports stood at 5,471 tonnes as of Dec. 31, up 4.2 percent from the last inventory date, data from the Rubber Trade Association of Japan showed. (Reuters)
Ivory Coast exported 471,904 tonnes of natural rubber from January through November 2016, up more than 19 percent from the same period in the previous year, provisional port data showed. (Reuters)
Global natural rubber output is likely to fall in the first quarter of 2017 as floods have disrupted tapping in top producer Thailand, the Association of Natural Rubber Producing Countries (ANRPC) said. Output for the period is expected to fall 0.8 percent from a year-ago level to 2.44 million tonnes. However, annual production from the ANRPC members, which together account for about 92 percent of global output, could rise 4 percent to 11.2 million tonnes in 2017, after stagnating over the past three years, the association said in a statement. (Reuters)
Thailand will lose around 10 percent of its rubber output in the 2016-2017 crop year after unseasonal flooding affected the country’s main growing region, a senior industry official said on Thursday. (Reuters)
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Geofin Comtrade
