MUMBAI (Commodity Online): On the back of low domestic price, India's natural rubber exports likely to move upward.
India is presently offering natural rubber at lower prices than global, which is likely to attract major importing nations.
According to the market data, the RSS-4 grade was quoted Rs 190a kg in India, while on Bangkok spot trade it was quoted at Rs 202 a kg on wednesday, reported Business Standard.
The major reason for the rise in rubber price is the intrevene of Thai government, who decide to buy 200,000 tonnes of rubber to resist the fall in prices and also plans to spend $535 million to boost prices.
Also the recovery in the chinese economy and the global economy has also contributed to the rise in global price.
Meanwhile according to Association of Natural Rubber Producing Countries, the natural rubber production in the world's biggest growers is expected to be grow at slower pace, while the demand is expected to rise.reported Bloomberg
Thailand is the largest producer of Rubber and China is one of top consumer of Ruber.
On Tokyo Commodity Exchange(TOCOM), the natural rubber for February delivery traded at 303 Yen per Kg and On National Multi Commodity Exchange (NMCE), the commodity for February delivery traded at Rs 18,850 per ton.
