Rubber futures in India fell this week on sluggish demand in the physical market while in global market rubber futures rose on the back of firm overseas demand and supply concerns due to adverse weather in growing regions. The most-active contract of rubber on the Tokyo Commodity Exchange gained as much as 3.2 percent on Friday to 474.8 yen per kilogram ($5,725 a ton).
Natural rubber demand may grow 4.6 percent this year, boosted by strong vehicle sales, with consumption continuing to outpace supply in coming years, according to the International Rubber Study Group.
Global consumption may gain to 11.2 million metric tons in 2011 and 11.6 million tons next year, said, the group’s secretary general. The supply deficit will support prices of the commodity used to make tires and gloves, he said.
At NMCE, February contract declined by 6.064 % to Rs 22629 while March contract fell by 6.18 % to 23186 per quintal. Spot rates of rubber on Friday were (Rs/kg): Spot rates were (Rs/kg): RSS-4: 224 ; RSS-5: 215 ; ungraded: 212; and latex 60 per cent: 151.
(Source: http://www.commodityonline.com/news/Commodity-TrendsPeppersoybean-complex-weaken-36059-3-1.html)
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