THE Government stopped the exports of unprocessed rubber to force companies to process the commodity locally and thereby boost the domestic economic activity and create more jobs.
Trade value of rubber and other commodities between the countries is expected to grow to 10% this year
The tyre and rubber company will be building its first tyre plant in Russia with Mitsubishi holding a 10% stake in the joint venture.
The tyre maker slashes down its use of rubber by 2.6% this year though December as demand in the US will be slower than forecast, according to an analyst.
The agreement of curbing rubber exports has since effected insignificant impact on global rubber prices.
Experts said that the price gaps in the rubber market are currently too wide and volatile.
Consumer tyres market was down by 12%,. according to ETRMA.
Italian firm Versalis (Eni) and US-based Genomatica are to jointly develop and license a technology for bio-based butadiene from non-food biomass, with Versalis providing US$20 million funding
Global market volume for carbon black is to increase by more than 3.1 million tonnes until 2019, says German research consultancy Ceresana in its latest report on the industry sector.
THE emergence of the bird flu virus strain, H7N9 in China has surged demand for examination gloves, benefiting the global rubber gloves industry, report said.