Rubber market seen tight till 2012 on limited land
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The global rubber market is likely to remain tight at least until 2012 as suppliers struggle to raise output despite high prices, a senior industry official said. Mr. Hidde Smit, secretary General of the international Rubber study group (ISRG), blamed labour shortages, limits available of lands and also delays in planting on top suppliers such as Thailand, Indonesia and Malaysia. “There are very tight markets” Mr. Smit told a conference on the Southern Chinese rubber growing island of hainan. We expect that to continue at least until 2011 or 2013 when new plantations come into production.” International rubber prices have risen almost four-fold since hitting 30-years lows in 2001, driven by strong demand. They hit 26 year highs last June.
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Source : Business Line |
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