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     Rubber
 
Natural rubber is one of the most important agro-based industrial raw materials in the world. An important ingredient in tyre making, rubber is also used widely in the manufacture of a slew of non-tyre goods. Tyre and non-tyre grade rubber is made out of latex obtained from rubber tree. Nearly 60 percent of the natural rubber is consumed by the transport sector.

Global Trends

Global natural rubber output is estimated to be around 8.6 million tons with Thailand, Indonesia, Malaysia and India leading the pack. China, US, Japan and India are the leading consumers of natural rubber. Global natural rubber output is slightly lower than consumption and that has helped rubber prices to touch high levels during 2005 and 2006. Tokyo Commodity Exchange, Singapore Commodity Exchange and Agriculture Futures Exchange in Bangkok are the major global rubber futures market. The three national commodity exchanges in India offer futures contracts in rubber.

Indian Situation

India produces around 800,000 tones of rubber while its consumption is also on the same level. Firming up in global level has helped natural rubber prices to gain over 20 percent to Rupees 6,699 per 100 kg in 2005006 (Apr-Mar) compared with the same period a year ago. In 2006-07, the rubber prices are ruling firm.

The main consumers of natural rubber in India are tyre makers. Tyre companies account for nearly 60 percent of the consumption while the rest is accounted by non-tyre sector. The Indian rubber industry is entitled to import natural rubber under the advance license scheme in lieu of exports. Import and export of natural rubber from India is shaped by the gap between global and Indian prices. If global prices are ruling higher compared with domestic price imports will be less while the opposite would take place in the case of domestic price staying higher compared with global prices.

Most popular grades used by Indian tyre makers are known as ribbed smoked sheet or RSS-4. The main spot markets for rubber in the country are Kottayam, Cochin and Kozhikode in Kerala. Domestic climatic conditions, government policies and global prices are key factors that influence domestic rubber prices.
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     Market Pulse  
  NCDEX@12.45pm,2135.77,down10.02
  National Commodity and Derivative Exchange futures (NCDEX) index still reeling and recorded 2135.77,down10.02 at 12.45 pm on Saturday.
  MCX@12.30am, 3296.76, up 2.08
  Multi Commodity Exchange future index continued upward trend and recorded 3296.76, up by 2.08 at 12.30 pm on Saturday.
  NCDEX @ 11.15am, 2140.22, down 5.77
  National Commodity and Derivative Exchange futures (NCDEX) index opened lower Saturday and recorded 2140.22, down by 5.77 at 11.15 am.
More> 
    Technical Calls  
  Pivot Levels NCDEX 5th July, 2008
 
  Pivot Levels NMCE 5th July, 2008
 
  Pivot Levels MCX 5th July, 2008
 
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    FOREX Reports  
  India\'s foreign reserves fall to $311.79 bn
  India\'s Forex reserves fell to $311.79 billion, down by $691 million for the week ended June 27 as against $ 312.481 billion in the last week, RBI said in its weekly report.
  Rupee draws support from equity market
  Forex dealers said the rupee drew support from a firm trend in local equity market but was still under pressure due to fresh surge in crude oil prices.
  Rupee begins well in early trade
  Indian rupee opened trading in a positive note Friday as investors covered their short positions but with oil holding above $145 a barrel and shaky stock markets raising prospects for more capital outflows, gains may be limited.
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