The rubber industry in Indonesia, the world's second-biggest rubber producer, will propose a review of the supply management that it has implemented in the past six months to cut overseas supply, along with Thailand and Malaysia in the ITRC meeting starting tomorrow in Thailand .
Thailand will announce national readiness to be a rubber trade leader and centre in Asean and in the world at the Asean Rubber Day 2013 fair, set to be held in the country's southern resort Phuket Province from April 10-12.
Rubber inventories in the warehouses monitored by SHFE declined, for the first time in nine weeks, by 1.1 percent to 117,504 tonnes last week.
According to Association of Natural Rubber Producing Countries, natural rubber output among the member countries increased 3.1 per cent to 10.6 million tonnes in 2012.
Crude rubber stockpiles held at Japanese warehouses rose 17.9 percent to 14,802 metric tons on March 20, according to data from the Rubber Trade Association of Japan.
Thailand's Deputy Farm Minister says the govt. to decide upon extension of domestic rubber purchase program after monitoring the production rates when tapping resumes after the 'wintering' season.
TECHNICAL VIEW
RUBBER May NMCE
Broad Trend: Seen weak.
| Resistances | TURNAROUND LEVELS | Supports |
| 16400-16550 | 16400-15900 | 16200-16040 |
| 16700-16860 |
| 15900-15800 |
| 16950-17050 |
| 15650-15500 |
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Rubber has support around Rs 16200-16040: Geojit Comtrade
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