Natural rubber prices rise to all-time high
Press Trust of India, December 23, 2010 (New Delhi)
Natural rubber prices on Thursday touched a new record at Rs. 207 per kg in Kerala on concerns over the domestic supply coupled with rising global rates.
"There is a tight supply situation which has fuelled the price rise and also a spurt in the international prices of natural rubber which are now ruling at Rs. 222 per kg," Rubber Dealers Federation of India President George Vally said.
Natural rubber prices are on a gaining spree for the past few months due to continuous rain in central Kerala and in Malabar region which adversely affected tapping, according to the federation.
Last month, rubber prices had zoomed to a high of Rs. 203 per kg but later it came down to Rs. 196 per kg.
The rising global prices have also contributed in the increase in domestic rubber rates.
Rubber prices have gone up in the international market due to increase in demand from China, coupled with disruption in production in Thailand, the largest producer, due to floods.
According to the Rubber Board estimates, India is likely to produce 8.93 lakh tonnes of rubber in the current fiscal while consumption would be around 9.78 lakh tonnes.
Recently, the Association of Natural Rubber Producing Countries, which accounts for 92 per cent of global output, has announced that the global natural rubber supply may drop by 3.8 per cent in the October-December period. Read more at: http://profit.ndtv.com/news/show/natura ... -131417?cp
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GMG Global
Re: GMG Global
by kiasiDBT » Sat Dec 25, 2010 1:24 pm
State TV signal cut as UN backs Gbagdo
Dec 24 2010 WalesOnline
Ivory Coast state television disappeared from the airwaves outside the nation’s largest city, in a blow to the incumbent president’s attempts to cling to power in the bloody aftermath of an election most of the world says he lost.
Meanwhile the United Nations recognised Laurent Gbagdo’s challenger, Alassane Ouattara, as the winner of the November 28 run-off vote.
The 192-nation UN General Assembly rescinded the credentials of Ivory Coast’s UN ambassador Ilahiri Djedje, a Gbagbo supporter, and accepted those of Mr Ouattara’s choice, veteran diplomat Youssouf Bamba.
The UN deputy human rights commissioner in Geneva, Kyung-wha Kang, said at least 173 people had died in violence since the election.
She detailed hundreds of arrests and detentions, dozens of cases of torture and mistreatment, and said government forces were preventing investigators from looking into other reports of human-rights abuses, including possible mass graves.
The state television channel controlled by Gbagbo continued to be shown in Abidjan, but only black and white snow appeared in at least six other cities around the West African nation just minutes before Ivorians sat down to their nightly newscast, residents said.
It was not immediately clear how the signal was cut off. Advisers to Mr Ouattara refused to comment, but the event falls in line with a series of strategies he has been employing to try to break Gbagbo’s stranglehold on the news.
A week ago, Mr Ouattara’s supporters unsuccessfully attempted to seize control of the channel. Mr Ouattara has been broadcasting a private radio station that intersperses rally songs with news broadcasts from the Golf Hotel, where he has been since the election. Mr Ouattara also had said that he planned to launch his own version of state TV.
There was no immediate comment from representatives for Gbagbo.
The UN, US, France and others have said Mr Ouattara won the run-off vote, but Gbagbo has refused to step down. State TV ran continuous footage of Gbagbo taking the oath of office in the days after he declared victory without mentioning that his claim was heavily contested.
The UN Human Rights Council adopted a resolution last night calling for an end to the violence which has raised fears of a return to civil war. Ms Kyung-wha told diplomats that there may be more fatalities than the ones she was able to document.
“Unfortunately it has been impossible to investigate all the allegations of serious human rights violations, including reports of mass graves, due to restrictions on movement by UN personnel,†she said.
“Indeed, the special representative of the secretary general was stopped at gunpoint as he sought to verify such allegations.â€
UN deputy spokesman Farhan Haq said that forces loyal to Gbagbo, supported by masked men armed with rocket launchers, were blocking the road to a village outside Abidjan “where allegations point to the existence of a mass graveâ€.
Ms Kyung-wha also expressed concern about how Ivory Coast media was being controlled by political allies of Gbagbo. She said state television and some private newspapers were inciting “hatred and violence†and releasing “false and inflammatory information against the United Nationsâ€.
Amid the rising concerns over violence, the US has said it and other countries are discussing ways to help quell the post-election violence.
“We are in discussions with other regional countries to see if there are ways in which we can reinforce the UN peacekeeping force,†White House spokesman PJ Crowley said.
“It could be that that kind of reinforcement could be another way to send a clear message to President Gbagbo.â€
Mr Crowley declined to name the countries that have been contacted but said Nigeria was a major contributor to West African peacekeeping forces. He also noted that France had interests in Ivory Coast, a former French colony where at least 13,000 French citizens live.
There has been little international interest so far in a military intervention in Ivory Coast, which suffered a 2002-2003 civil war.
The US and the European Union are imposing sanctions targeting Gbagbo, his wife and political allies. Hundreds of UN peacekeepers have been protecting the hotel where Mr Ouattara is based.
Over the weekend, Gbagbo ordered all UN peacekeepers out of the country immediately. But the UN considers Mr Ouattara president and is staying put, raising fears that UN staff and other foreigners could be targeted as tensions mount
Read More http://www.walesonline.co.uk/news/lates ... z1968fIXtc
Dec 24 2010 WalesOnline
Ivory Coast state television disappeared from the airwaves outside the nation’s largest city, in a blow to the incumbent president’s attempts to cling to power in the bloody aftermath of an election most of the world says he lost.
Meanwhile the United Nations recognised Laurent Gbagdo’s challenger, Alassane Ouattara, as the winner of the November 28 run-off vote.
The 192-nation UN General Assembly rescinded the credentials of Ivory Coast’s UN ambassador Ilahiri Djedje, a Gbagbo supporter, and accepted those of Mr Ouattara’s choice, veteran diplomat Youssouf Bamba.
The UN deputy human rights commissioner in Geneva, Kyung-wha Kang, said at least 173 people had died in violence since the election.
She detailed hundreds of arrests and detentions, dozens of cases of torture and mistreatment, and said government forces were preventing investigators from looking into other reports of human-rights abuses, including possible mass graves.
The state television channel controlled by Gbagbo continued to be shown in Abidjan, but only black and white snow appeared in at least six other cities around the West African nation just minutes before Ivorians sat down to their nightly newscast, residents said.
It was not immediately clear how the signal was cut off. Advisers to Mr Ouattara refused to comment, but the event falls in line with a series of strategies he has been employing to try to break Gbagbo’s stranglehold on the news.
A week ago, Mr Ouattara’s supporters unsuccessfully attempted to seize control of the channel. Mr Ouattara has been broadcasting a private radio station that intersperses rally songs with news broadcasts from the Golf Hotel, where he has been since the election. Mr Ouattara also had said that he planned to launch his own version of state TV.
There was no immediate comment from representatives for Gbagbo.
The UN, US, France and others have said Mr Ouattara won the run-off vote, but Gbagbo has refused to step down. State TV ran continuous footage of Gbagbo taking the oath of office in the days after he declared victory without mentioning that his claim was heavily contested.
The UN Human Rights Council adopted a resolution last night calling for an end to the violence which has raised fears of a return to civil war. Ms Kyung-wha told diplomats that there may be more fatalities than the ones she was able to document.
“Unfortunately it has been impossible to investigate all the allegations of serious human rights violations, including reports of mass graves, due to restrictions on movement by UN personnel,†she said.
“Indeed, the special representative of the secretary general was stopped at gunpoint as he sought to verify such allegations.â€
UN deputy spokesman Farhan Haq said that forces loyal to Gbagbo, supported by masked men armed with rocket launchers, were blocking the road to a village outside Abidjan “where allegations point to the existence of a mass graveâ€.
Ms Kyung-wha also expressed concern about how Ivory Coast media was being controlled by political allies of Gbagbo. She said state television and some private newspapers were inciting “hatred and violence†and releasing “false and inflammatory information against the United Nationsâ€.
Amid the rising concerns over violence, the US has said it and other countries are discussing ways to help quell the post-election violence.
“We are in discussions with other regional countries to see if there are ways in which we can reinforce the UN peacekeeping force,†White House spokesman PJ Crowley said.
“It could be that that kind of reinforcement could be another way to send a clear message to President Gbagbo.â€
Mr Crowley declined to name the countries that have been contacted but said Nigeria was a major contributor to West African peacekeeping forces. He also noted that France had interests in Ivory Coast, a former French colony where at least 13,000 French citizens live.
There has been little international interest so far in a military intervention in Ivory Coast, which suffered a 2002-2003 civil war.
The US and the European Union are imposing sanctions targeting Gbagbo, his wife and political allies. Hundreds of UN peacekeepers have been protecting the hotel where Mr Ouattara is based.
Over the weekend, Gbagbo ordered all UN peacekeepers out of the country immediately. But the UN considers Mr Ouattara president and is staying put, raising fears that UN staff and other foreigners could be targeted as tensions mount
Read More http://www.walesonline.co.uk/news/lates ... z1968fIXtc
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Re: GMG Global
by kiasiDBT » Sat Dec 25, 2010 1:36 pm
IVORY COAST
Stand down or face 'legitimate force',ECOWAS tells Gbagbo
After holding an emergency summit on Friday, the 15-nation West African regional bloc ECOWAS said that it would send a special envoy to the Ivory Coast to tell incumbent president Laurent Gbagbo he must step down or face “legitimate forceâ€.
http://www.france24.com/en/africa?ns_mc ... 6wodj3xPow
Stand down or face 'legitimate force',ECOWAS tells Gbagbo
After holding an emergency summit on Friday, the 15-nation West African regional bloc ECOWAS said that it would send a special envoy to the Ivory Coast to tell incumbent president Laurent Gbagbo he must step down or face “legitimate forceâ€.
http://www.france24.com/en/africa?ns_mc ... 6wodj3xPow
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Re: GMG Global
by kiasiDBT » Sat Dec 25, 2010 2:00 pm
Rubber Gains to Record as Crude Oil Gains, Thai Supply Tightens
By Jae Hur and Supunnabul Suwannakij
Dec. 24 (Bloomberg) -- Rubber climbed to a record after crude oil climbed to the highest level in more than two years, boosting the cost of making rival synthetic products, and heavy rains curbed supplies from Thailand, the largest shipper.
The June-delivery contract, which listed on the Tokyo Commodity Exchange on Dec. 22, surged to as high as 419 yen per kilogram ($5,054 a metric ton) during the so-called night session. Trading in this session is settled on Monday.
“Higher oil prices and tight supply from Thailand have pushed rubber prices higher,†said Hiroyuki Kikukawa, general manager of research at IDO Securities Co. in Tokyo.
New York crude oil jumped 1.1 percent yesterday after the Thomson Reuters/University of Michigan final index of consumer sentiment for December climbed to 74.5 from 71.6 in November. Americans increased spending in November for a fifth straight month and companies stepped up orders for equipment, signaling that the economic recovery is accelerating.
Crude oil for February delivery rose $1.03 to close at $91.51 a barrel in New York, the highest settlement since Oct. 3, 2008. The market is closed today for the Christmas holiday.
Rubber gained 4.5 percent this week, a fourth weekly climb, and is poised to rise in December for a sixth month. That would be the longest winning streak since 1979.
Prices may stay at higher levels early next year as estates in Thailand, the world’s biggest producer, and Indonesia enter their low-production season, known as wintering, Kikukawa said.
Record Cash Price
The cash price in Thailand climbed 0.3 percent to a record 149.05 baht per kilogram, tracking higher oil prices, according to the Rubber Research Institute of Thailand. Supplies are inadequate to meet demand, it said today.
Prices are likely to stay “high†as demand increases amid tight global supplies and rising oil prices, Apichart Jongskul, secretary-general of the Office of Agricultural Economics said today, without giving a forecast.
Production of natural rubber in Thailand may increase 3.9 percent to 3.23 million tons next year as tapping areas increase, Apichart said at a Bangkok conference.
May-delivery rubber in Shanghai climbed as much as 1.4 percent to 37,700 yuan ($5,673) a ton before closing at 37,300 yuan. The contract climbed to a record 38,920 yuan Nov. 11.
To contact the reporters on this story: Jae Hur in Tokyo at [email protected]; Supunnabul Suwannakij in Bangkok at [email protected]
To contact the editor responsible for this story: Richard Dobson at [email protected]
Last Updated: December 24, 2010 05:03 EST
By Jae Hur and Supunnabul Suwannakij
Dec. 24 (Bloomberg) -- Rubber climbed to a record after crude oil climbed to the highest level in more than two years, boosting the cost of making rival synthetic products, and heavy rains curbed supplies from Thailand, the largest shipper.
The June-delivery contract, which listed on the Tokyo Commodity Exchange on Dec. 22, surged to as high as 419 yen per kilogram ($5,054 a metric ton) during the so-called night session. Trading in this session is settled on Monday.
“Higher oil prices and tight supply from Thailand have pushed rubber prices higher,†said Hiroyuki Kikukawa, general manager of research at IDO Securities Co. in Tokyo.
New York crude oil jumped 1.1 percent yesterday after the Thomson Reuters/University of Michigan final index of consumer sentiment for December climbed to 74.5 from 71.6 in November. Americans increased spending in November for a fifth straight month and companies stepped up orders for equipment, signaling that the economic recovery is accelerating.
Crude oil for February delivery rose $1.03 to close at $91.51 a barrel in New York, the highest settlement since Oct. 3, 2008. The market is closed today for the Christmas holiday.
Rubber gained 4.5 percent this week, a fourth weekly climb, and is poised to rise in December for a sixth month. That would be the longest winning streak since 1979.
Prices may stay at higher levels early next year as estates in Thailand, the world’s biggest producer, and Indonesia enter their low-production season, known as wintering, Kikukawa said.
Record Cash Price
The cash price in Thailand climbed 0.3 percent to a record 149.05 baht per kilogram, tracking higher oil prices, according to the Rubber Research Institute of Thailand. Supplies are inadequate to meet demand, it said today.
Prices are likely to stay “high†as demand increases amid tight global supplies and rising oil prices, Apichart Jongskul, secretary-general of the Office of Agricultural Economics said today, without giving a forecast.
Production of natural rubber in Thailand may increase 3.9 percent to 3.23 million tons next year as tapping areas increase, Apichart said at a Bangkok conference.
May-delivery rubber in Shanghai climbed as much as 1.4 percent to 37,700 yuan ($5,673) a ton before closing at 37,300 yuan. The contract climbed to a record 38,920 yuan Nov. 11.
To contact the reporters on this story: Jae Hur in Tokyo at [email protected]; Supunnabul Suwannakij in Bangkok at [email protected]
To contact the editor responsible for this story: Richard Dobson at [email protected]
Last Updated: December 24, 2010 05:03 EST
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Re: GMG Global
by kiasiDBT » Mon Dec 27, 2010 4:53 pm
Plane belonging to Gbagbo grounded in Switzerland
http://www.france24.com/en/20101226-ivo ... d-ouattara
http://www.france24.com/en/20101226-ivo ... d-ouattara
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Re: GMG Global
by kiasiDBT » Mon Dec 27, 2010 9:09 pm
Rubber prices to trend higher next week
KUALA LUMPUR, Saturday 25 December 2010 (Bernama) -- The Malaysian rubber market is expected to trend higher next week as low production due to bad weather will continue to push prices higher, dealers said.
A dealer said supply concerns remained amid the current heavy rainfalls in major rubber-producing countries.
"This is amid increasing prices of crude oil, which increase the cost of producing rival synthetic rubber," a dealer said.
Crude oil prices hit two-year highs above US$91 a barrel on signs of the recovery in the US economy.
During the week, rubber prices on the Malaysian rubber market remained at historic highs due to short supply and increasing demand from China.
Malaysian rubber prices ended the week higher with the unofficial SMR 20 at 1,500.50 sen per kg on Thursday, rising 60 sen per kg from 1,440.5 sen per kg last Friday
Latex in Bulk rose 26 sen per kg on Thursday to 988 sen per kg from 962 sen per kg last Friday.
(The unoffical closing prices were not available on Friday due to early closure for Christmas eve.)
As for the official price, latex in bulk rose 31 sen per kg to 990.50 sen per kg from 959.50 sen per kg. SMR 20 advanced 69.5 sen per kg to 1,502 sen per kg from 1,432.50 sen per kg.
(Source: http://www.mysinchew.com/node/50290)
KUALA LUMPUR, Saturday 25 December 2010 (Bernama) -- The Malaysian rubber market is expected to trend higher next week as low production due to bad weather will continue to push prices higher, dealers said.
A dealer said supply concerns remained amid the current heavy rainfalls in major rubber-producing countries.
"This is amid increasing prices of crude oil, which increase the cost of producing rival synthetic rubber," a dealer said.
Crude oil prices hit two-year highs above US$91 a barrel on signs of the recovery in the US economy.
During the week, rubber prices on the Malaysian rubber market remained at historic highs due to short supply and increasing demand from China.
Malaysian rubber prices ended the week higher with the unofficial SMR 20 at 1,500.50 sen per kg on Thursday, rising 60 sen per kg from 1,440.5 sen per kg last Friday
Latex in Bulk rose 26 sen per kg on Thursday to 988 sen per kg from 962 sen per kg last Friday.
(The unoffical closing prices were not available on Friday due to early closure for Christmas eve.)
As for the official price, latex in bulk rose 31 sen per kg to 990.50 sen per kg from 959.50 sen per kg. SMR 20 advanced 69.5 sen per kg to 1,502 sen per kg from 1,432.50 sen per kg.
(Source: http://www.mysinchew.com/node/50290)
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Re: GMG Global
by kiasiDBT » Thu Dec 30, 2010 2:17 pm
Buoyant year ahead for natural rubber
By HANIM ADNAN
[email protected]
Wednesday December 29, 2010
PETALING JAYA: Rubber prices, which hit many new historic highs over the past two months, are set to extend their rally into the first quarter of next year on a prolonged tight supply situation, says industry experts.
Currently, local rubber grades SMR 20 and latex-in-bulk are trading at record levels of RM15 and RM9.93 per kg respectively.
Malaysian Rubber Board director-general Datuk Dr Salmiah Ahmad told StarBiz that the bullishness in rubber prices was principally fuelled by a tight supply situation, speculation in rubber futures, Thailand's imposition of a new cess effective Oct 1 and dwindling stocks in major producing and consuming countries.
She said traders in the producing and consuming regions had reported strong market fundamentals following the lack of physical supplies and record low levels of stocks at private warehouses in consuming nations
In recent months, output has also been affected by abnormal rainfall.
Meanwhile, local rubber prices were also boosted by the strengthening of the ringgit.
In fact, the natural rubber (NR) price trend since 2006 had seen many new highs, supported by concerns over supply tightness, firm crude oil prices and speculation over a shortfall in production and strong demand.
On the near-term outlook, Salmiah said: “The seemingly unstoppable growth in China and India, coupled with anticipated higher average oil prices in 2010, point towards a buoyant year ahead for NR.â€
She added that higher rubber prices were expected in 2011. The current heavy rain falls and floods in producing countries, coupled with tsunami wrecking parts of Indonesia, had affected production in the final quarter of 2010.
“This will be followed by the seasonal lull of leaf shedding or wintering from January to March, reducing total output by some 30% to 40%.
“In this scenario, major consumers will be making plans to replenish their much-depleted inventories in the months ahead,†added Salmiah.
The low stock levels worldwide will be also another plus point for NR price.
Salmiah pointed out that rubber stock levels were at an all time low at least in a decade. The current stock level is equivalent to about five to six weeks of world demand compared with two to three months previously.
China and India would remain important markets for NR as their “automobile industries are poised to register double-digit growth over the next couple of years.â€
Association of Natural Rubber Producing Countries (ANRPC) senior economist Jom Jacob concurred that sentiment in the NR market would be dominated by the uncertainty in supply.
According to ANRPC's latest NR trends and statistics report, the severe supply situation would likely be aggravated from February to May 2011, period which coincides with the annual wintering of rubber trees.
“The current spike in the NR market has also been driven by an improved economic outlook, coupled with higher import demand from China, which registered annualised increases of 58% and 65% in October and November this year respectively.
“As the consuming industry normally goes for large volume purchases before the supply enters the wintering season (starting end of February), the demand is likely to gain further momentum in January next year,†he added.
In addition, the surge in crude oil price had also been a key driver of the present bull-phase in the NR market. According to oil industry analysts, there was a possibility of oil reaching US$100 per barrel by early 2011.
The NR market is also not immune to the increasingly speculative nature of investments in the commodity markets.
According to Jacob, total rubber supply from ANRPC's nine member countries is anticipated at 9.42 million tonnes in 2010 and 9.92 million in 2011 “if the climate takes its normal patternâ€.
ANRPC members contribute about 92% to total world NR production.
On Malaysia, the world's third-largest rubber producer, Jacob said the NR supply usually took a seasonal drop from end of February until May every year, which coincides with leaf shedding by trees in summer.
“Supply during these months normally shrinks 60% to 70% of the levels during peak seasons,†he added.
He estimated that 48% of the global demand for NR comes from China, India and Malaysia the top three NR-consuming countries within the ANRPC grouping
By HANIM ADNAN
[email protected]
Wednesday December 29, 2010
PETALING JAYA: Rubber prices, which hit many new historic highs over the past two months, are set to extend their rally into the first quarter of next year on a prolonged tight supply situation, says industry experts.
Currently, local rubber grades SMR 20 and latex-in-bulk are trading at record levels of RM15 and RM9.93 per kg respectively.
Malaysian Rubber Board director-general Datuk Dr Salmiah Ahmad told StarBiz that the bullishness in rubber prices was principally fuelled by a tight supply situation, speculation in rubber futures, Thailand's imposition of a new cess effective Oct 1 and dwindling stocks in major producing and consuming countries.
She said traders in the producing and consuming regions had reported strong market fundamentals following the lack of physical supplies and record low levels of stocks at private warehouses in consuming nations
In recent months, output has also been affected by abnormal rainfall.
Meanwhile, local rubber prices were also boosted by the strengthening of the ringgit.
In fact, the natural rubber (NR) price trend since 2006 had seen many new highs, supported by concerns over supply tightness, firm crude oil prices and speculation over a shortfall in production and strong demand.
On the near-term outlook, Salmiah said: “The seemingly unstoppable growth in China and India, coupled with anticipated higher average oil prices in 2010, point towards a buoyant year ahead for NR.â€
She added that higher rubber prices were expected in 2011. The current heavy rain falls and floods in producing countries, coupled with tsunami wrecking parts of Indonesia, had affected production in the final quarter of 2010.
“This will be followed by the seasonal lull of leaf shedding or wintering from January to March, reducing total output by some 30% to 40%.
“In this scenario, major consumers will be making plans to replenish their much-depleted inventories in the months ahead,†added Salmiah.
The low stock levels worldwide will be also another plus point for NR price.
Salmiah pointed out that rubber stock levels were at an all time low at least in a decade. The current stock level is equivalent to about five to six weeks of world demand compared with two to three months previously.
China and India would remain important markets for NR as their “automobile industries are poised to register double-digit growth over the next couple of years.â€
Association of Natural Rubber Producing Countries (ANRPC) senior economist Jom Jacob concurred that sentiment in the NR market would be dominated by the uncertainty in supply.
According to ANRPC's latest NR trends and statistics report, the severe supply situation would likely be aggravated from February to May 2011, period which coincides with the annual wintering of rubber trees.
“The current spike in the NR market has also been driven by an improved economic outlook, coupled with higher import demand from China, which registered annualised increases of 58% and 65% in October and November this year respectively.
“As the consuming industry normally goes for large volume purchases before the supply enters the wintering season (starting end of February), the demand is likely to gain further momentum in January next year,†he added.
In addition, the surge in crude oil price had also been a key driver of the present bull-phase in the NR market. According to oil industry analysts, there was a possibility of oil reaching US$100 per barrel by early 2011.
The NR market is also not immune to the increasingly speculative nature of investments in the commodity markets.
According to Jacob, total rubber supply from ANRPC's nine member countries is anticipated at 9.42 million tonnes in 2010 and 9.92 million in 2011 “if the climate takes its normal patternâ€.
ANRPC members contribute about 92% to total world NR production.
On Malaysia, the world's third-largest rubber producer, Jacob said the NR supply usually took a seasonal drop from end of February until May every year, which coincides with leaf shedding by trees in summer.
“Supply during these months normally shrinks 60% to 70% of the levels during peak seasons,†he added.
He estimated that 48% of the global demand for NR comes from China, India and Malaysia the top three NR-consuming countries within the ANRPC grouping
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Re: GMG Global
by kiasiDBT » Fri Dec 31, 2010 11:49 am
India, China demand to keep up rubber in 2011: Thailand
Published on: December 28
BANGKOK (Commodity Online) : World’s leading rubber producer and exporter Thailand said, fast growing economy India’s demand along with China could keep rubber prices up for next year as well.
According to Ananta Dalodom, Thailand’s former director-general of the Agriculture Department, rubber prices are expected to stay well above 100 baht per kilogramme.
Demand has shifted to China and India from the United States and Japan during the past three years, making China the largest importer at 2.7 million to 2.8 million tonnes, driven by high growth in the automotive sector.
Demand from India keeps rising due to its economic growth, as India plans to construct roads covering up to 200,000 kilometres using natural rubber as part of the material.
Raw rubber sheet prices are now quoted at 138 baht per kg, while smoked ribbed rubber sheets No 3 (RSS3) were trading Monday in the Hat Yai cash market at 149.55 baht, with latex at 131 baht per kg.
Rubber prices have been rising steadily since 2002 when the raw rubber sheet price was 29.15 baht per kg, RSS3 was 30.23 baht and latex 30.49 baht.
"The prices are very high and have shown no signs of declining. Prices should remain at least 100 baht per kg from now on," said Dr Ananta.
Thailand, the world's largest exporter, produces around 3 million tonnes per year, accounting for 40% of world production, followed by Indonesia and Malaysia.
Dusit Rojanawanitchakorn, the owner of a 500-rai rubber plantation in Chon Buri province, said he now earned 1.5 million baht per month compared with an average of 800,000 baht per month last year, when prices of the raw rubber sheet during the same period were 90 baht per kg.
"These are the highest prices I've ever seen, and I think it will stay this way for at least two years," said Mr Dusit, adding that current prices were reasonable.
Kanda Chamchumrus, who owns a rubber processing plant, disagrees, saying the price surge is due mainly to speculation by large factories selling their products at high prices, which distorts prices and does not represent the real market.
"I have heard from rubber planters that they do not want excessive prices because they are afraid the system will fall through, as this will prompt users to shift to substitute products," said Mrs Kanda.
Prayong Hirunyawanich, chairman of the Federation of Thai Industries' natural rubber and rubberwood cluster club, said rising rubber prices had increased costs for businesses.
"Manufacturers cannot raise their product prices to pass on the higher costs, as the Commerce Ministry has called for price freezes to try to curb inflation," he said.
Published on: December 28
BANGKOK (Commodity Online) : World’s leading rubber producer and exporter Thailand said, fast growing economy India’s demand along with China could keep rubber prices up for next year as well.
According to Ananta Dalodom, Thailand’s former director-general of the Agriculture Department, rubber prices are expected to stay well above 100 baht per kilogramme.
Demand has shifted to China and India from the United States and Japan during the past three years, making China the largest importer at 2.7 million to 2.8 million tonnes, driven by high growth in the automotive sector.
Demand from India keeps rising due to its economic growth, as India plans to construct roads covering up to 200,000 kilometres using natural rubber as part of the material.
Raw rubber sheet prices are now quoted at 138 baht per kg, while smoked ribbed rubber sheets No 3 (RSS3) were trading Monday in the Hat Yai cash market at 149.55 baht, with latex at 131 baht per kg.
Rubber prices have been rising steadily since 2002 when the raw rubber sheet price was 29.15 baht per kg, RSS3 was 30.23 baht and latex 30.49 baht.
"The prices are very high and have shown no signs of declining. Prices should remain at least 100 baht per kg from now on," said Dr Ananta.
Thailand, the world's largest exporter, produces around 3 million tonnes per year, accounting for 40% of world production, followed by Indonesia and Malaysia.
Dusit Rojanawanitchakorn, the owner of a 500-rai rubber plantation in Chon Buri province, said he now earned 1.5 million baht per month compared with an average of 800,000 baht per month last year, when prices of the raw rubber sheet during the same period were 90 baht per kg.
"These are the highest prices I've ever seen, and I think it will stay this way for at least two years," said Mr Dusit, adding that current prices were reasonable.
Kanda Chamchumrus, who owns a rubber processing plant, disagrees, saying the price surge is due mainly to speculation by large factories selling their products at high prices, which distorts prices and does not represent the real market.
"I have heard from rubber planters that they do not want excessive prices because they are afraid the system will fall through, as this will prompt users to shift to substitute products," said Mrs Kanda.
Prayong Hirunyawanich, chairman of the Federation of Thai Industries' natural rubber and rubberwood cluster club, said rising rubber prices had increased costs for businesses.
"Manufacturers cannot raise their product prices to pass on the higher costs, as the Commerce Ministry has called for price freezes to try to curb inflation," he said.
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Re: GMG Global
by kiasiDBT » Mon Jan 03, 2011 9:31 am
Some past article on GMG for sharing purpose:
21 November 2008 - Working on a 3-year China Strategy :-
http://www.sharesinv.com/articles/2008/ ... -strategy/
Broke 0.295 resistance ....
21 November 2008 - Working on a 3-year China Strategy :-
http://www.sharesinv.com/articles/2008/ ... -strategy/
Broke 0.295 resistance ....
- kiasiDBT
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Re: GMG Global
by kiasiDBT » Thu Jan 06, 2011 4:44 pm
Rubber Futures Advance to a Record as U.S. Economy Improves, Yen Weakens
Rubber extended its rally to a record for a third day after data showed improvement in the U.S.economy, boosting expectations demand will expand for the commodity used in tires amid tightening supplies.
June-delivery rubber gained as much as 2.5 percent to 438.8 yen per kilogram ($5,267 a metric ton) before trading at 436.8 yen on the Tokyo Commodity Exchange at 12:18 p.m. local time. The most-active contract has increased 5.4 percent this week, extending last year’s advance of 50 percent.
http://www.bloomberg.com/news/2011-01-0 ... akens.html
Rubber extended its rally to a record for a third day after data showed improvement in the U.S.economy, boosting expectations demand will expand for the commodity used in tires amid tightening supplies.
June-delivery rubber gained as much as 2.5 percent to 438.8 yen per kilogram ($5,267 a metric ton) before trading at 436.8 yen on the Tokyo Commodity Exchange at 12:18 p.m. local time. The most-active contract has increased 5.4 percent this week, extending last year’s advance of 50 percent.
http://www.bloomberg.com/news/2011-01-0 ... akens.html
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