Market and product
Global rubber price dips on China's demand concern
MUMBAI (Commodity Online): Concern over lower demand for natural rubber from china, the worlds largest producer, global rubber prices dips. While, the commodity in India is trading higher on lower supply and poor stocks.
The lower demand in China is mainly due to slow economic growth and higher production of rubber expected for the current year.
The rubber price in Bangkok fell by Rs 3 per kg in the past one week. On Thursday, the rubber price was quoted Rs 197 a kg.
Meanwhile, according to India's rubber industry, the country is likely to experience a supply -demand gap more than 100,000 tonnes by the end of this financial year 2011-12.
India's rubber consumption is expected to exceed production by 39,420 tonnes during April-February of the current financial year.
In Tokyo Commodity Exchange (TOCOM), rubber for march delivery traded down 0.5 yen to 310.5 yen per kg Friday. While, In India's National Commodity and Derivative Exchange (NCDEX), commodity for April delivery traded at Rs 19,715 per ton on 23rd march
