ERJ staff report (DS)
Tokyo -- Amid rumours that the main NR producing countries are preparing to restrict production of NR, prices of the commodity rose in Tokyo, to around Yen 187 ($1.90) per kilo. At the close on Thursday, the six-month benchmark contract stood at Yen 189.9/kg.
Indonesia is to call for smallholders to reduce their tapping frequency; Malaysia is seeking to cut down older trees while Thailand also wants to reduce the tapping frequency.
In Singapore prices have recovered from the lows of mid-October, to around $1.90/kg compared with $1.58 two weeks ago.
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Prices in Tokyo from Tocom
Prices in Singapore from Sicom
Tokyo rubber rises 5 pct as equities rally from Forbes