KUALA LUMPUR (Commodity Online): The rubber price is likely to be higher this week (6th February to 10th February) on supply concern following the report of wintering and dry season in the major growing countries.
According to data provided by Malaysian Rubber Board, the physical price for tyre-grade SMR 20 was 1,117.50 sen per kg down from 1,139.5 sen , while latex in bulk was 763 sen per kg from 747.0 sen on 4th February, reported the star online.
Natural rubber production from world's biggest growers may may slowdown this year while demand to climb up on cooling global economic crisis.
Meanwhile, according to Rubber Board of India, domestic consumption of natural rubber is estimated to rise by 4% to 10.06 lakh ton during 2012-13 Fiscal.
India is expected to produce 9.02 lakh tons of natural rubber, while consumption of the commodity is estimated at 9.66 lakh ton during the 2011-12 Fiscal.
The rubber producers in Indonesia is opposing the the government plan to impose tax on rubber exports, saying that it will badly effect the rubber exports of the country.
The rubber producers wants the Indonesian government to provide more help to the farmers s and grower rather than imposing tax on the export of rubber.
