Rubber Surplus Exceeding Forecast as Thai Production Revised
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A surplus in the global natural-rubber market this year will be 78 percent more than estimated in December as demand slows and output in Thailand surpasses forecasts, according to The Rubber Economist Ltd. Futures dropped from a one-week high.
The glut is estimated at 652,000 metric tons in 2014, compared with 366,000 tons predicted in December, Prachaya Jumpasut, managing director of the London-based industry adviser, said in an e-mail. The surplus for 2013, previously estimated at 336,000 tons, was seen at 714,000 tons.