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Friday, January 28, 2022

Indonesia’s rubber export prices continue to decline

According to Indonesia, “Handelsblatt” reported on January 19, due to the huge stock of Chinese rubber, the RMB against the U.S. dollar was strong and crude palm oil prices decline, resulting in rubber export prices continue to decline in Indonesia, U.S. $ 2.16 to U.S. $ 2.18 per kg .

Secretary-General of the Indonesian Rubber Association (Gapkindo) Eddie • Yierwanxia recently in Jakarta, said: “China is the largest export market for Indonesian rubber, because of China’s large stock of reduced purchases in order to avoid greater losses. Exporters conducting transactions very cautious. “

Downward trend in export prices, resulting in a weak rubber prices of raw materials and processing factories in Indonesia. Previously, raw rubber processing factory price of 22,072 to 24,072 Shield Shield per kg per kg, but the price dropped to 16 January to 23,594 per kg 21594 Shield Shield. He said: “If prices continue to decline, foreign exchange earnings will be lower than last November according to Indonesian Central Bureau of Statistics, to November last year, foreign exchange earnings from rubber exports reached $ 1.931 billion..”

Translated by Google Translator from http://market.cria.org.cn/4/19134.html

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