Rise in spot rubber prices

On Monday (13 September 2010), the spot rubber prices rose following the sharp gains on NMCE. Sheet rubber increased to Rs 169 from Rs 167.50 per kg on fresh buying and short covering.

The September futures for RSS 4 rose to Rs 172.84 (169.83), October to Rs 169.67 (164.92), November to Rs 169.02 (164.71) and December to Rs 171.20 (166.63) per kg on the National Multi Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 169 (167.50); RSS-5: 165 (162.50); ungraded: 162 (158); ISNR 20: 154 (152) and latex 60 per cent: 114 (112). 

(indiainfoline.com)

Global Rubber Demand in 2011 Up 6.7% on Year

The International Rubber Study Group (IRSG) forecast that global rubber demand is expected to rise from 23.9 million tones in 2010 to 25.5 million tons in 2011 or up 6.7%. It also forecast that the-12-month consumption of rubber to June will reach 23.1 million tons, up 11% year on year. The IRSG further forecast that demand for NR this year will be around 13.3 million tons. For NR production, the IRSG expects global NR production to rise by 6.1% to 10.25 million tons in 2010 and by a further 7.3% to 11 million tons in 2011. 

(Irco.biz)

India's Auto Sales Surged to Record High in August

Auto sales in India surged to a record high of 33% in August to 160,794 units from 120,681 a previous year on the back of lower borrowing costs, introduction of new models and forthcoming festivals, according to the Society of Indian Automobile Manufacturers. Nowadays India is still one of the lowest number of cars per 1,000 people among major automobile markets worldwide that there is room to grow, according to KPMG. This led to the rise in car sales during April – August to 753,199 units, up 34%, according to SIAM. For export of cars in August, the figure climbed 28% to 191,033 units.

(Irco.biz)

Indonesia Revised Rubber Forecast Down on Rains

Indonesia's Rubber Association revised the forecast of rubber output for 2010 to 2.4 million tons to 2.5 million tons from 2.6 million tons due to tapping disruption by prolonged rains that La Nina brought them into the region since July, Suharto Honggokussumo, executive director of Indonesia’s Rubber Association said on 9 September.

(Irco.biz)

US Imports NR Up in July

13 September 2010 – U.S. imported technically specified natural rubber in July totalling 52,809 tonnes or up 16.1% from June, and was up 31.9% from the previous year, according to the U.S. Commerce Department.

(Irco.biz)

Malaysia rubber exports rise in July

Natural rubber production rose by 10,338 tonnes or 14.6 per cent to 81,083 tonnes in July compared to June, the Statistics Department sid today.

Production, however, dwindled by 1,821 tonnes from 82,904 tonnes on a year-on-year basis, it said.

The main portion of natural rubber production was contributed by the smallholding sector, with 93.2 per cent, while the estate sector accounted for only 6.8 per cent, it said in a statement today.

Natural rubber exports in July increased by 5.8 per cent as compared to June while exports on a year-on-year basis surged strongly by 22.5 per cent, it said.

The Standard Malaysian Rubber (SMR) continued to be the main contributor to exports, recording 71,318 tonnes, of which, 55.6 per cent was SMR20, it said.

The main natural rubber consuming industry was rubber gloves at 72.4 per cent, followed by tyres and tubes at eight per cent and rubber thread at 5.5 per cent, the department said.

The three industries consumed 32,808 tonnes or 85.9 per cent of the total domestic consumption of natural rubber, it added.

(btimes.com.my)

Centre's decision on rubber import duty not justified: KM Mani

Kerala Congress (M) chairman KM Mani has said that the decision of the ministry of commerce to modify the import duty for rubber could not be justified.

Inaugurating Rubber Board Technical Guild, an organisation affiliated to Kerala Congress, and works for the welfare of technical employees of Rubber Board yesterday, Mani said the Centre earlier imposed import duty of 40% has reduced to 13% which should be reexamined.

The former minister said the price of rubber will come down if the centre imports one lakh tonne of rubber through this duty structure.

Mani reiterated his demand that the import cess for natural rubber be put back at 20% and thus save the interests of lakhs of growers in the country.

He assured that all efforts would be made to raise the status of Rubber Research Institute of India on par with Indian Council for Scientific Research.

He urged the Centre to revise the payscale and perks of employees of Rubber Research Institute of India at the earliest.

(dnaindia.com)