World rubber price
At the end of this morning's trading session, the price of rubber futures for June on the OSE - Japan increased by 1% (2.9 Yen) to 302.9 Yen/kg.
In China, the July rubber futures price on the Shanghai Futures Exchange (SHFE) increased by 0.11% (15 yuan) to 13,820 yuan/ton.
In Thailand, rubber futures for July delivery rose 0.1% (0.09 baht) to 72.73 baht/kg.
In Thailand, heavy rains in late April disrupted rubber tapping during what was expected to be a bumper crop. Meanwhile, Indonesia’s output is expected to fall by nearly 10 percent, while Vietnam’s is expected to fall by more than 1 percent as farmers switch to palm oil, a more profitable crop, according to forecasts from the Association of Natural Rubber Producing Countries (ANRPC).
On the demand side, auto production and consumption in China – the world’s largest rubber consumer – increased by about 11% year-on-year in May, providing a major boost to rubber demand in the tire manufacturing industry.
In addition, crude oil prices rose nearly 9% in early June due to tensions between Israel and Iran, increasing petrochemical feedstock prices and transportation costs. Marine insurance premiums in the Gulf region rose about 20%, increasing the cost of synthetic rubber, leading to strong demand for natural rubber, especially in Chinese bonded warehouses, which are ramping up imports to stockpile.
Cambodia Transforms - Producing Rubber Gloves for Export
In a major step forward, Boeung Ket Rubber Company in Stung Trang District, Kampong Cham Province, Cambodia, has announced plans to expand its operations into producing rubber gloves for export. This is part of a strategy to increase domestic value-added, reduce dependence on foreign companies and retain more profits domestically.
Mr. Heng Long, Chairman of the company, said that the factory currently produces about 300 tons of rubber per day, and the goal is to reach 600 tons/day in the near future. It is expected that in 6 months to a year, the factory will start producing rubber gloves on site.
Kampong Cham province has more than 265,000 hectares of agricultural land, with about 66% of the population engaged in agriculture. Currently, the company's rubber products have been exported to major markets such as China and Vietnam.
Domestic rubber price
In the domestic market, the purchase price of latex at large rubber enterprises continues to move sideways. Specifically, Mang Yang Rubber Company purchases latex at a price ranging from 397 to 401 VND/TSC, depending on the type. Accordingly, grade 1 latex is at 401 VND/TSC/kg; grade 2 latex is at 397 VND/TSC/kg.
Binh Long Rubber Company buys latex at 386 - 396 VND/TSC/kg; mixed latex with 60% DRC is priced at 14,000 VND/kg.
Grade 1 mixed latex is at 409 VND/DRC/kg; grade 2 mixed latex is at 359 VND/DRC/kg.
Ba Ria Rubber Company, the purchase price of liquid latex is 405 VND/TSC degree/kg (applied to TSC degree from 25 to under 30); DRC coagulated latex (35 - 44%) is 13,500 VND/kg; raw latex remains unchanged from 17,200 - 18,500 VND/kg.
Phu Rieng Rubber Company purchases mixed latex at 400 VND/DRC; liquid latex at 435 VND/TSC.
Source: https://baodaknong.vn/gia-cao-su-hom-nay-19-6-tiep-tuc-tang-tai-thi-truong-chau-a-256020.html
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