Campco to buy rubber from 6 centres

Campco to buy rubber from 6 centres
Mangalore: The Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd is all set to enter the rubber business by starting rubber procurement in six centres this month.

The cooperative has got licences from the Rubber Board to operate in six centres including two in Karnataka and four in Kerala.

Mr S.R. Rangamurthy, President of Campco, told Business Line that the cooperative will enter the rubber business from this month. To begin with, the cooperative will procure rubber at its centres in Sullia and Puttur in Karnataka, and Mulleriya, Bandadka, Ponkunnam and Thodupuzha in Kerala.

The cooperative had sought permission from the Rubber Board to operate in 10 centres in these two States. (BL) http://www.thehindubusinessline.com/2010/01/13/stories/2010011353361800.htm

Mixed trend in rubber
Kottayam: Spot rubber witnessed a mixed mood on Tuesday. Sharp gains in the Japanese indices helped major grades to finish in the positive zone. A bearish move in the domestic futures took the steam out of the market during closing hours but sheet rubber improved to Rs 140 from Rs 139 on better demand. Volumes were limited as the major consuming industries stayed inactive though most of the players were expecting the raw material to register further highs. The undercurrent was bullish.

Futures weak

The January futures weakened to Rs 141.51 (143.86), February to Rs 144.42 (146.49), March to Rs 147.36 (149.40) and April to Rs 151.29 (152.85) a kg for RSS 4 on Natural Multi Commodity Exchange (NMCE). RSS 3 flared up at its January futures to ¥289.5 (¥281.5) (Rs 144.10), February to ¥289.8 (¥280.8), March to ¥291.8 (¥283.5), April to ¥294.6 (¥286.2), May to ¥296.9 (¥288.7) and June to ¥299.9 (¥291.7) a kg during the day session on Tokyo Commodity Exchange. RSS 3 (spot) closed firm at Rs 140.30 (139.84) a kg at Bangkok. The grade increased to Rs 141.05 (138.48) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 140 (139); RSS-5: 133.50 (133); ungraded: 129 (129); ISNR 20: 132.50 (132) and latex 60 per cent: 87 (87). (BL)

Rubber Slumps From 16-Month High After China Restrains Lending
Tokyo Jan. 13: Rubber fell from a 16-month high after China, the world’s top consumer, raised bank-reserve requirements to curb a credit boom and prevent the economy from overheating.

Futures in Tokyo, which earlier reached the highest level since Sept. 12, 2008, fell after the unexpected shift by China’s central bank to curb lending, which may foreshadow higher interest rates and a relaxation in the yuan’s peg to the dollar.(Bloomberg) http://www.bloomberg.com/apps/news?pid=20601012&sid=a4ZcuNc_O05w



REFILE-INTERVIEW-Top rubber producers want to halt rally
KUALA LUMPUR: The world's top rubber producers fear cash prices of the commodity have gone too high and may soon take steps to hold prices at a "reasonable level" of $2.6 per kilogram, a top industry official said on Tuesday.

Top producer Thailand may take the first step and release at least 300,000 tonnes of rubber held in reserves to moderate prices, said Djoko Said Damardjati, secretary general of the Association of Natural Rubber Producing Countries (ANRPC).

"Thailand has asked (the other two producers, Indonesia and Malaysia) to consider increasing supplies and impose higher export levies," Damardjati, who is often consulted by these governments, told Reuters in an interview. (Reuters) http://in.reuters.com/article/domesticNews/idINSGE60B00G20100112