MARKET COMMENTARY
Natural rubber continues to advance in local and major overseas market. As this week’s session culminates, TOCOM rubber futures are set to post its best weekly gains in about 10-months. The benchmark August rubber futures on Friday shoot up more than five per cent, to hit two-and-a-half-month high, tracking similar gains on SHFE rubber futures and other industrial commodities.
In the Indian market, sentiments stayed sanguine with the commodity extending gain in both spot and futures market. RSS4 in the physical market was quoted at its highest level since early January.
MARKET NEWS
India Rubber Meet-2016 scheduled for March 10-11 in Goa.
Crude rubber inventories at Japanese ports stood at 14,553 tonnes as of Feb. 20, up 4.8 percent from the last inventory date, data from the Rubber Trade Association of Japan showed.
China imported 4.72 million tons of natural and syndicated rubber in 2015, a year-over-year increase of 15.3 per cent. The country imported natural and syndicated rubber worth 48.6 billion yuan (approx US$7.44 billion) during the same period, down 11.3 per cent from a year earlier. The country imported 590,000 tons of natural and syndicated rubber in December of 2015, up 18 per cent month on month. The country imported natural and syndicated rubber worth 5.25 billion yuan (approx US$803 million) during the same period, up 12.8 per cent compared to the previous month.
Thailand’s military-led government on Tuesday approved about 87 billion baht ($2.43 billion) in loans to help farmers who have been hit hard by falling commodity prices and widespread drought.
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Geofin Comtrade
