MARKET BUZZ
Benchmark TOCOM rubber futures climbed on Thursday as the yen weakened against the dollar, making yen-denominated commodities cheaper for holders of other currencies. (Reuters)
Prices of natural rubber rose in the key markets of Kochi and Kottayam in Kerala on Wednesday, tracking a rise in futures of the commodity, traders said. The most traded RSS-4 grade rubber was sold at 150 rupees a kg in Kottayam and Kochi, up by a rupee from Tuesday, according to data from the Rubber Board.(Cogencis)
Thailand will sell 98,000 tonnes of rubber from state stockpiles in the first state auction in 2017, the country’s rubber authority said on Thursday. The sale is worth over 6.64 billion baht ($187.57 million), said Titus Suksaard, governor of the Rubber Authority of Thailand. (Reuters)
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)
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Geofin Comtrade
