Japanese rubber output for tyres totalled 90,585 tonnes in February, up 1.9 per cent from the same month a year earlier and up 11.2 per cent from January, an industry group said. Domestic rubber shipments in February amounted to 43,077 tonnes, down 4.8 per cent from a year earlier but up 6.7 per cent from January, the Japan Automobile Tyre Manufacturers Association said. February exports of rubber for tyres totalled 46,449 tonnes, up 10.2 percent from a year earlier and up 7.6 per cent from the previous month, it said. Domestic rubber output for tyres in the first two months of 1999 totalled 172,021 tonnes, up 1.9 per cent from the same period earlier.

Two-day rubber meet

The All India Rubber Industries Association (AIRIA) has organised a two-day seminar `Rubber Industry Vision 2000' in Mumbai on April 17 and 18. Maruti Ltd's managing director RSSLN Bhaskarudu is expected to inaugurate the seminar. Rubber Board chairman KJ Mathew will be the chief guest.Among others, the list of persons addressing the participants at the rubber seminar include names like Ceat Ltd's managing director S Samuel, AVT group's OT Jayachandran and Hindustan Lever Ltd's Robin Banerjee. The seminar is expected to address various industry specific issues including management, ISO-9000, automobilies, emerging trends in demand for new polymers, natural rubber, raw material testing and processing in the rubber industry.

Indonesia olein flat

Bears ruled the Indonesian palm olein market with prices staying flat because of a lack of interest, traders said. "It's time for traders to hold back stocks to prevent prices from falling further. There's no way we are going to suffer more losses because of the weak demand," said one trader in Medan, North Sumatra. Olein was flat at 3,700 rupiah/kg in Jakarta and 3,450 rupiah/kg in Medan. Traders said it was unlikely the government would reduce soon cut the export tax on crude palm oil (CPO) and its byproducts, especially after trade andindustry minister Rahardi Ramelan said the tax would be lowered if the country's CPO output reached eight million tonnes. Indonesia's 1999 CPO output was expected to reach between 5.2 and 5.5 million tonnes, higher than last year's production.

SFE wheat futures easier

Sydney Futures Exchange (SFE) wheat fell further in a market which once again failed to produce contract trades. Quoted prices fell heavily in near-term and distant months, by A$4.75. Mid-term months were treated less harshly, with market leader and harvest month January 2000 down by A$1.25 to A$169.00 a tonne. This followed a decline in Chicago wheat futures on last Friday to their lowest levels in more than four weeks on large worldwide supplies, despite unchanged estimates by the USDA of US 1998/99 exports and wheat ending stocks. The USDA increased its estimate of 1998/99 world wheat output and raised its projection of ending world stocks to 134.06 million tonnes from 127.38 million tonnes.

Malaysia palm oilup

MALAYSIAN palm oil prices were higher, helped by shortcovering and speculative buying following soyoil's gains in Chicago and expectation of Indian buying soon, traders said. "Morning sentiment was firmer. The rise was aided by soyoil and talk that India may come into the market soon," a broking firm trader said. He expected trade volume to pick up in the afternoon on further buying interest, reflecting the firmness in Chicago last week. Chicago soyoil futures, sparked by an unexpected trimming of a government stocks estimate, climbed on last Friday to end at the highest levels in more than a week.

Indonesia olein flat

Bears ruled the Indonesian palm olein market with prices staying flat because of a lack of interest, traders said. "It's time for traders to hold back stocks to prevent prices from falling further. There's no way we are going to suffer more losses because of the weak demand," said one trader in Medan, North Sumatra. Olein was flat at 3,700 rupiah/kg in Jakarta and 3,450rupiah/kg in Medan. Traders said it was unlikely the government would reduce soon cut the export tax on crude palm oil (CPO) and byproducts.