KUALA LUMPUR — The Malaysian rubber market is expected to trend mixed next week, tracking the movement of the regional futures market and crude oil prices.
A dealer said the ringgit’s performance against the US dollar would also affect the local rubber market.
“Apart from that, the positive move to implement the Agreed Export Tonnage Scheme (AETS) since March 1 by Thailand, Indonesia and Malaysia may limit a further fall in the natural rubber prices, thus helping raise the income of rubber smallholders in the three countries,” he told Bernama.
In February, the International Tripartite Rubber Council said under the scheme, the three countries would withdraw exports of 615,000 tonnes of natural rubber for six months from March 1 to Aug 31, 2016.
For the week just-ended, the local market was traded mostly mixed.
On a Friday to Thursday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 7.5 sen to 508 sen a kg, while latex-in-bulk added 7.5 sen to 433.50 sen a kg.
The 5 pm unofficial closing price for SMR 20 declined 5.5 sen to 504.50 sen a kg, while latex-in-bulk was nine sen higher to 434 sen a kg.
