ERJ staff report (DS)
Tokyo -- Prices of NR around the world hit new records yesterday, breaching the 58-year-old record of $3.50/kg, set in 1952. Low rainfall in Thailand contributed to the increase, as managers predicted yields and output would fall due to the weather. Demand from India and China have also been strong.
In Tokyo, short-dated contracts closed at an all-time high of yen 336 ($3.59) per kilo on Thursday, though the benchmark six-month contract was closer to yen 315 ($3.37) per kilo
In Singapore, the same pattern showed, with short-dated contracts for RSS3 touching $3.60 while longer-dated contracts closed around $3.35. TSR 20 was less volatile, with all prices closing around $3.27.
On India's NMCE, short dated rubber closed at Rs 157.80 ($3.51) per kilo, though contracts for May 15 delivery closed at Rs 162.25 ($3.62).
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Prices on Tocom (Tokyo)
Prices on Sicome (Singapore)
Prices on NMCE(India)
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