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Selasa, 04 Januari 2011

The Economic Times Natural rubber output in Dec edges up on weather

MUMBAI: India's natural rubber output in December edged up by 0.6% to 101,500 tonnes as favourable weather allowed farmers to increase tapping, the state-run Rubber Board said in a statement on Monday.

Consumption during the month in world's fourth-largest producer fell by 3.4% to 77,500 tonnes. Imports jumped by 71% to 10,500 tonnes as tyre makers had signed contracts for December delivery earlier in the year when local rubber prices were higher than global prices, it added.

At present, international prices are higher than local prices.

“Tapping is going on in full swing. In some areas, farmers failed to tap trees that have no rain-guards. Production from such trees will rise in January,” George Valy, president of The Indian Rubber Dealers Federation , told Reuters.

During rainy season, most farmers protect the tapping space on the tree with rain-guards.

Valy said in January the output may stand at around 105,000 tonnes, compared with 97,500 tonnes a year ago.

The spot price of the most traded RSS-4 rubber (ribbed smoked sheet) had hit a record high of Rs 20,750 ($464) per 100 kgs in December, tracking the rally overseas. The country's April-December natural rubber production stood at 649,650 tonnes, up 2.8%, while imports during the period rose by 7.7% to 156,608 tonnes.

The board has also trimmed the production estimate for 2010/11 to 851,000 tonnes against the previous estimate of 893,000 tonnes.
Posted by Saham Pilihan at 05.39

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