Three-nation meet planned in Dec over natural rubber prices

Officials from Thailand, Indonesia and Malaysia are set to meet next month over prices of natural rubber. The meeting, part of efforts to stabilise prices of the commodity, would be held on December 11-12 in Phuket. Though the three countries had earlier met in July and August to restrict exports, this had little impact on the global markets. In the last three to four weeks, prices of natural rubber have seen a steady fall.

In the global market, the RSS-4 grade was on Tuesday quoted at Rs 166 a kg, against Rs 165 on Friday. Experts say the market is in a strong bearish mode, as global exports and consumption of rubber have slowed in the last 10 months, owing to economic turmoil. Also, imports by China fell drastically this year. In the last four weeks, international prices of natural rubber have ranged from Rs 162 a kg to Rs 165 a kg, against Rs 185 a kg a year earlier. In the Kochi and Kottayam markets, the commodity was on Tuesday quoted at Rs 174 a kg.

Experts feel the market might see turbulent times next year. Some expect a steep fall in rubber prices next year, as global demand is sluggish. “It may not be surprising if the RSS-4 is quoted below Rs 150 a kg in 2013,” said Kochi-based trader N Radhakrishnan.

Read more: http://www.business-standard.com/

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(ldtn-vietrubber)

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