- Demand worries due to the spread of Delta variant of coronavirus and covid-19 related lockdowns in many countries dampened the overall sentiments in the natural rubber market amidst expectation of rise in production. Natural rubber traded mixed in the overseas market.
- Japan’s Osaka rubber futures plunged to eight-month lows, while SHFE and SICOM rubber futures bounced off the lows and posted gains for the last week.
- In the Indian market too, RSS4 grade rubber inched up from the two-month lows in the spot market last week. However, underlying sentiments stayed feeble due to unfavorable market fundamentals. However, firmer crude oil prices lend support, limiting losses.
- Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose by 2.1 per cent to 188158 tonnes on week on week basis according to the data released by the exchange last Friday.
- India is estimated to import around 35,000 ton of natural rubber in June compared with 30,000 ton in May, the Association of Natural Rubber Producing Countries said. In April, however, imports of the commodity stood at 44,000 ton.
- Natural rubber production in Thailand is estimated to rise 24% on-month to 408,000 tons in July according to the Association of Natural Rubber Producing Countries. In Malaysia, natural rubber production in July is seen up at 44,000 tons from 42,000 tons in June. The g lobal supply of natural rubber in July is seen at 1.17 million tons, as compared with 1.05 million tons a month ago.
- According to ANRPC, based on the preliminary estimates up to May 2021, the world production of natural rubber (NR) in 2021 is anticipated to grow at5.8%, year-on-year, to 13.812 million tonnes; while world demand of NR is estimated at 6.7% growth to 13.679 million tonnes in the same reference period.
- According to the Rubber Board, natural rubber production increased to 7.15 lakh tonnes (lt) compared with 7.12 lt in 2019-20. The rise came after the production in the first quarter dropped by 41,000 tonnes to 82,000 tonnes (1.23 lakh tonnes). Natural rubber consumption declined to 10.96 lt against 11.34 lt in 2019-20.
- Cambodia exported $99.87 million of natural rubber from January to April this year, according to the country’s Ministry of Agriculture, Forestry and Fisheries. In total, 61,056 tonnes of natural rubber were exported over the four months. Rubber export revenues increased by 2.5 percent over the same period in 2020 ($97.43 million) according to the ministry.
- The Malaysian Rubber Council (MRC) said the Malaysian rubber industry’s exports increased by 169.6% in the first quarter of 2021 (1Q21) to RM21.84 million from RM8.1 million a year earlier.
- Ivory Coast exported 351719 tonnes of natural rubber from January to April, down nine per cent on year on year from the same period in 2020.
- The Arunachal Pradesh government has urged the Rubber Board to make subsidies available to farmers and increase activities in plantations by conducting workshops in an effort to revive rubber crop in the state. In a meeting with Rubber Board Executive Director K.N. Raghavan, the government asked the Board to actively take part in transforming the state into the rubber bowl of the Northeast and help boost its economy.
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