“The new portal from the Commodity Online group is intended to provide prices of natural rubber across global markets and to provide the latest news and developments in the rubber industry comprising both natural and synthetic rubber,” according to George Iype, Managing Director of Commodity Online.
India is among the leading producers of natural rubber, occupying fourth position behind Thailand, Indonesia and Malaysia while its consumption is expected to hit one million tonnes in 2013. Global production is expected to rise to 12.5 mn tonnes in 2013 from 11 mn recorded in 2011.
More than 60% percent of the natural rubber consumed in India is by automobile industry and has shown significant growth along with China’s automobile industry. Asian region will account for significant growth in rubber demand in the coming years up to 2020, according to analysts.
“Our new portal, Rubber Country, aims to fulfill the long felt need of the growers, traders and industry to get reliable price and latest news developments to make better investment decision in spot and futures markets,” George Iype said.