World rubber market in February & 3 / 2010: price increases
Natural rubber prices on the world market increased in two consecutive months, a record high since October 9 / 2008 dated 29/03/2010 on supplies in Thailand, the country’s largest rubber exporter World oil prices lower and pushing up production costs of synthetic rubber – a product of oil, directly competing with natural rubber.
In Tokyo on 29/03/2010, rubber contract prices in September rose to $ 312.3 yen per kg ($ 3,373 per ton) increased 5.9% after one week earlier.
Natural rubber prices have increased 13% from the beginning of this year.
The export of natural rubber in Thailand has increased the price of this product further 3% as supplies decline. Thailand is in the winter, a season low rubber production. Winter lasts from February to April.
Rubber RSS-3 in Thailand, term delivery in May, prices increased $ 3.40 per kg, up 0.3 U.S. cents compared with only a few days earlier.
Output in Thailand and Malaysia, two of the world’s largest producer, has continued to decrease from last February due to dry weather reduces production of pus. Farmers will stop completely by the end of the latex harvested in April.
Crude oil prices are rising again, get rid of the second lowest level this week, due to forecasts of economic recovery will push up demand for fuel, and worries about the debt crisis of Greece made the Euro reduced recovered slightly against the dollar.
Crude oil price term in May increased 0.8% to $ 80.61 a barrel in New York.
In Shanghai, the term rubber tháng 9 / 2010 price increase to 25,185 yuan ($ 3,689) per ton on 29/3/2010, the highest since 03/01/2010.
Reserves of natural rubber in Shanghai was down 24,663 tons to 74,220 tons, based on investigation results in 10 warehouses. This reserve level is the lowest since August 2009.
In India, prices of natural rubber also increased recently, has set a new record high due to strong buying activity.
Regarding the relevant information, in Codivoa farmers have abandoned crops to grow cocoa and rubber, cocoa due to low yield, by plant pests and diseases and aging.
Rubber Business Association Myanmar has exported 60,000 tons of rubber from the 2009/10 financial year to date, compared with the target of 70,000 tons. In fiscal 2008/09, the country has exported 40,000 tons. Myanmar rubber exported mainly to China, Malaysia, Singapore, Vietnam, Thailand, Indonesia, Korea and India. Besides rubber, jute, cotton and oilseed crops are the major crops in Myanmar.
In Thailand, three rubber processing factories would be set up in the Northeast, at a cost of nearly 500 million baht. Three processing plants will be about 60,000 tons of rubber per year. In the future, these plants are not only rubber processing in the Northeast region, but also processed rubber from both Northern and neighboring countries as Cambodia and Laos.
Source: According thitruongcaosu.net