Rubber prices today December 11 increased slightly on the Shanghai Futures Exchange (SHFE) and the Tokyo Commodity Exchange (TOCOM) went sideways.
At TOCOM, rubber futures prices in December 2023 did not fluctuate much, at 236.7 yen/kg. On SHFE, RSS3 rubber price for January 2024 futures increased 0.53% at 13,330 yuan/ton.
Rubber increases by 13.10 US Cents/kg or 10.06% since the beginning of 2023.
In the domestic market from the beginning of November 2023 until now, rubber prices have tended to decrease, maintaining around 270 - 312 VND/YSC.
Phuoc Hoa Rubber Company is currently buying latex at the price of 310-312 VND/TSC, down 3 VND/TSC compared to last month. Meanwhile, Phu Rieng Rubber Company maintained the purchasing price at 285-305 VND/TSC, stable compared to the previous month.
Binh Long Rubber Company reduced purchasing price to 285-295 VND/TSC, down 7 VND/TSC compared to last month. Ba Ria Rubber Company kept the purchasing price at about 280-290 VND/TSC, down 5 VND/TSC compared to last month.
In 2023, it is expected that global natural rubber output will reach over 14.93 million tons, an increase of 2.3% compared to 2022.
Accordingly, Thailand's natural rubber output is expected to increase by 2.5%, Indonesia by 1.8%, China by 1.9%, India by 3.8%, Vietnam by 4.1%. , Malaysia decreased by 2.9%, and other countries increased by 2.8%.
By 2023, global natural rubber consumption is expected to reach 15.57 million tons, an increase of 0.2% compared to 2022.
Of which, China's natural rubber consumption is expected to increase by 3.5%, India by 5.7%, Thailand by 26%, Malaysia by 5.8%, Vietnam by 0.2%, and Other countries increased by 0.6%.
The Association of Natural Rubber Producing Countries (ANRPC) has called on the European Union (EU) to further consider the role of the natural rubber industry in sustainable development.
As a matter of principle, ANRPC is committed to supporting all activities that promote sustainability and protect natural resources in a fair, transparent and sustainable manner, without creating unnecessary and damaging trade barriers. harmful to local communities.
At the same time, ANRPC emphasizes the important role of natural rubber as an indispensable raw material, contributing to the economic, social and environmental prosperity of all stakeholders, including agriculture. small farmers/farmers, communities and the world, as recorded from the latest report of the Import-Export Department (Ministry of Industry and Trade).
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