In the general boom in commodities during the first three months of the year, rubber did not allow itself to be outshone by any other commodity; and in the general slump which followed the gold price' scare, rubber fell as heavily as the rest wrote the "Financial News" in July. But while most commodities have recovered to a moderate extent in the last month or so, rubber has continued to bump along the bottom and is now only very slightly above the year's lowest point.
Recently, the market began to grow a little more optimistic and to pro-phossy a substantial price recovery, the belief that the 90 per cent, quota for the last half of the year would be achieved slowly and with difficulty and that consumers, who had long remained out of the market, would be forced by the steady depletion of their stocks, to resume purchases. But this incipient revival of confidence and optimism has been quickly nipped in the bud by the June export and stock figures of Malaya and the Netherlands East Indies.
Malayan exports were equal to nearly 90. per cent, and N.E. exports to nearly 110 per cent, of the basic quotas. It is not yet known whether Malayan estate stocks were reduced, but it is unlikely that any decline that may have, occurred in these stocks was greater than the increase of 11,000 tons in -Singapore and Penang dealers' and port stocks; and there is reasonable ground for the belief that actual Malayan production in June was practically equal to 90 per cent. of the standard allowances.
Text read from the printed page and cleaned; old type leaves the occasional error.