KUALA LUMPUR (March 24): Malaysian rubber prices closed slightly higher today, on tight supply expectation of the commodity in the market, following drought in main rubber growing countries, a dealer said.
A report by the International Rubber Consortium said that rubber production in Thailand, Indonesia and Malaysia, may drop six to eight per cent this year, due to exceptional dry weather.
The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20, rose three sen to 626.5 sen a kg at noon, while latex-in-bulk gained 1.5 sen to 496.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 eased one sen to 626.5 sen a kg, while latex-in-bulk improved half-a-sen to 496.5 sen a kg.
Bernama
