TOKYO (Commodity Online): To control the further fall of global rubber prices, Thailand has proposed to limit shipments of commodity, according to Bernard Dompok, Plantation Industries and Commodities Minister.
Due to the persisting Euro zone crisis amid slow down in demand in India and China, the rubber prices fell in both Tokyo Commodity Exchange (TOCOM) and in India’s National Commodity and Derivatives Exchange (NCDEX).
The price drop was also aided by the falling Crude oil prices, which made synthetic rubber cheaper compared to natural rubber.
According to Thailand government officials, the government will discuss limits on rubber shipments with Malaysia and Indonesia.
With the limiting of rubber exports, the prices are expected to move upwards.
For July delivery, rubber in TOCOM traded at 235.7 yen per Kg and in NMCE, the commodity traded up at Rs 18630 per ton on 29th June at 15:30 IST.
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