MARKET BUZZ
Benchmark TOCOM rubber futures dropped to their lowest in nearly two weeks on Monday after Thailand said it planned to sell the commodity from stockpiles to ease supply shortages following flooding in growing regions. (Reuters)
Thailand’s Sri Trang Agro-Industry Pcl STA.BK, the world’s biggest natural rubber producing company, expects to increase sales by over 20 percent to 1.7 million tonnes this year, a senior company executive said on Friday. (Reuters)
Thailand will lose around 7.6 percent of its rubber output in 2017 after flooding hit the main growing region, an official of the Rubber Authority of Thailand said. (Reuters)
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)
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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