News > Export News
Reserve in rubber producing countries reduced
(
Update:
10/02/2014
)
.jpg)
Reserve rubber in Thailand , Indonesia and Malaysia at low levels and may decline further , while crop production started at a low level , International Rubber Consortium Ltd. . ( IRCo ) said in a statement .
Rubber futures price fell 8 consecutive weeks as of 7/2 , the longest losing streak since 5/2003 . Winter is the period when rubber trees shed their leaves , cut latex yield .
Thailand , Indonesia and Malaysia account for 70 % of global rubber output . Rubber prices for delivery in July rose 1.4 % to 225.2 yen / kg (equivalent to $ 2,198 / ton ) on the Tokyo Commodity Exchange , up 5.8 % session 7/2 , an increase the most since May .
IRCo for that low price is " unreasonable " and would advise promotional trade association members not to sell , the group said . IRCo also proposed " to accelerate and enhance the performance of supply management scheme " .
The world market surplus 353,000 tons this year , 3rd year surplus , while stocks may rise 16 % to all-time highs of 2.5 million tonnes , RCMA Commodities Asia Pte . said .
Reserve is overseen by the Department of the Shanghai Futures Trading reach 207 658 tonnes , the highest level since January 10/2004 . Imports by China , the biggest buyers , will increase 11 % this year , up 4.26 million tons , an increase of 14 % compared with the previous year , the Association of Natural Rubber producers said .
Vu Flax ( Vinanet / Bloomberg )
