Tocom RSS3 rubber futures are lower in slow trade although the spot March contract is higher on tight supply amid the ongoing low-production season.
With market sentiment weak, it’s “about time” for rubber producing countries to work together more closely, says International Rubber Consortium chief executive Yium Tavarolit in a note this week.
He adds the council is working with the emerging rubber producing countries of Cambodia, Laos, Myanmar and Vietnam to establish an Asean Rubber Council to better manage production and marketing.
Benchmark August rubber trades Y1.4 lower at Y215.5/kg.
– IRCo
