Rubber futures in Asia moved in tight ranges and weighed down spot rubber markets in the region due mainly to the existence of weak market sentiment and investors’ confidence. Daily trading volume on the rubber futures were very thin while natural rubber (NR) supply on physical rubber markets was low amid the low production season and steady demand for NR in the auto and rubber glove industries.
To enable NR prices to move towards rubber market forces and fundamentals, it is about time for NR producing countries to work together closer than in the past. ITRC and IRCo are coordinating withCambodia, Lao PDR, Myanmar, and Vietnam (CLMV) to establish ASEAN Rubber Council (ARC) and a Regional Rubber Market (RRM), and to develop other strategic activities in the near future to manage NR production and marketing more effectively.
– IRCo
