Spot rubber prices improve

Spot rubber prices improve

Kottayam: Physical rubber prices improved on Monday. Moderate gains in the domestic rubber futures on NMCE catalysed the sentiments and the market made all-round gains mainly on speculative buying coupled with marginal short-covering.

Sheet rubber moved up to Rs 139 from Rs 138 a kg but the volumes continued to be low lacking genuine consumer based buying on the grade.

Futures firm

The January futures firmed up to Rs 143.95 (141.01), February to Rs 146.65 (144.17), March to Rs 149.50 (146.98) and April to Rs 153 (150.45) a kg for RSS 4 on Natural Multi Commodity Exchange (NMCE). RSS 3 increased to Rs 138.48 (137.47) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) closed at Rs 139.84 (139.49) a kg at Bangkok. The Tokyo Commodity Exchange (TOCOM) remained closed on account of ‘Coming of Age Day '

Spot rates were (Rs/kg)”: RSS-4: 139 (138); RSS-5: 133 (131.50); ungraded: 129 (128); ISNR 20: 132 (131) and latex 60 per cent: 87 (87). (BL)
Decision soon on raising subsidy for rubber
Kottayam: The Government is considering to raise the subsidy given to growers for cultivating rubber and a decision would be made soon, according to the Union Minister of State for Commerce and Industry, Mr Jyotiraditya Scinda.

He was addressing presspersons after inaugurating the Web-based Distance Diagnostic Information System ‘Rubber Clinic' to help growers tackle diseases and pests attacks on crop.

About 15 lakh workers are engaged in the plantation sector and more welfare measures should be introduced for them, he said, adding that in a changing situation, small growers will have to improve quality of the products.

The growers' representation on the Board should be increased. (BL) http://www.thehindubusinessline.com/2010/01/12/stories/2010011251251600.htm


Natural rubber imports rise 118% in April-December
Natural rubber (NR) imports during April-December period of the current financial year increased 118 per cent to touch 138,486 tonnes compared with 63,452 tonnes in the same period last year. However, the sharp rise in imports occured only during the first half of the current financial year, as only 4,890 tonnes were added in December, according to the data released by the Rubber Board. (BS) http://www.business-standard.com/india/news/natural-rubber-imports-rise-118-in-april-december/382396/

Rubber Climbs to 16-Month High as Chinese Demand May Increase
Jan. 12: Rubber advanced to the highest level in 16 months as rising car sales in China, the world’s largest automobile consumer, stoked speculation that demand for the raw material used in tires will keep growing.

Futures in Tokyo gained as much as 2.8 percent to the highest level since Sept. 12, 2008. China supplanted the U.S. as the world’s largest auto market after its 2009 vehicle sales jumped 46 percent, ending more than a century of American dominance, data from the China Association of Automobile Manufacturers showed yesterday. (Bloomberg) http://www.bloomberg.com/apps/news?pid=20601012&sid=aKJDp.wdPmE8