According to reports: Thailand's domestic planting industry and Commerce Minister Bernard Dompok recently stated that in order to curb further declines in rubber prices in the international market, Thailand has explicitly proposed to limit rubber exports.
Given the persistence of the Eurozone crisis and the weakening demand for rubber in the Indian and Chinese markets, the prices of rubber futures contracts have both declined both on the Tokyo Commodity Exchange and on the National Commodity and Derivatives Exchange of India. . In addition, under the influence of declining crude oil market prices, synthetic rubber prices were much cheaper than the prices of natural rubber in the same period last year, which ultimately led to the decline in the market price of rubber.
According to Thai government officials, the Thai government will explore restrictions on the amount of natural rubber it exports to the Malaysian and Indonesian markets. With limited rubber exports, natural rubber prices are expected to increase. On the Tokyo Commodity Exchange as of June 29, 2012, the price of rubber futures contracts delivered in July 2012 was 235.7 yen per kilogram. On the National Commodity Exchange of India as of June 29, 2012, the transaction price for natural rubber futures contracts delivered in July 2012 was Rs 18,630 per tonne.
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