Indonesian Rubber Export Prices Continue to Fall

Indonesian Rubber Export Prices Continue to Fall

Indonesia business newspaper reported on January 19, because of the great rubber stock in China, exchange rate of Chinese Yuan against to dollar is strong, and a downward trend in crude palm oil price, which made Indonesia's rubber export prices continue to fall from usd2.16 to 2.18 dollars per kilogram.

Indonesian rubber Association (Gapkindo) Secretary General AiDi·YiEr Wan recently said in Jakarta, "China is one of the largest  rubber export market of Indonesian, as China reduced purchasing because of  huge stock, In order to avoid greater losses, exporters dealing business very carefully.”

The downward trend in export prices led to weak domestic plant processing raw rubber price in Indonesia. Earlier, processing raw rubber price in plants was 22072 tons- 24072 tons per kilo. but on January 16 the price reduced to 21594 tons to 23594 tons per kilo. He said: "If the prices continue to drop, foreign exchange earnings would be lower than last November. According to the Indonesian Central Bureau of statistics, till November last year 1.931 billion dollars on foreign exchange earnings come from rubber export.

                                                                           ——excerpted from latex industry 2014 2nd part