The Malaysian rubber market closed slightly higher today despite the easier Tokyo rubber futures exchange, dealers said.
They said Tokyo rubber futures opened lower on profit-taking activities and the yen’s strength against the greenback.
“Trade participants are now keeping their eyes on a protest by farmers in Thailand which is forcing the government to restart a stockpile scheme to buy rubber at above-market prices,” they added.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 was 1.5 sen higher at 808 sen a kg and latex-in-bulk added 4.5 sen to 549 sen a kg.
The unofficial closing price for tyre-grade SMR 20 fell four sen to 804 sen a kg while latex-in-bulk rose 2.5 sen to 549.5 sen a kg.– Bernama