Natural rubber prices surge through 1988 levels

London -- Prices of natural rubber have hit new all-time highs in India, and reached the highest price for nearly 100 years in Singapore, while in Tokyo the price was the highest for 21 years.

In Tokyo the benchmark 6-month futures prices reached 233.8 yen/kilo, well above the 1988 price of ¥228.2/kg. In India, RSS4 was trading at Rs 73/kg, over 1 rupee ahead of the previous record of 72 Rs/kg set in December. Traders said growers were holding back stocks in the hope of a further rise, with one analyst expecting a price of Rs 75 by the end of the week.

In Singapore, RSS3 was trading at 190 US cents/kg with futures showing prices up to 197.50 for the 12-month contract. RSS1 was at 312.5 Sing cents/kg (or around 191 US cents) with the 12-month price at 322.75. While this is not technically a record high it is the highest since prices for RSS1 reached over $2.2 in 1911 during the south American rubber bubble.

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Price charts SICOM (Singapore)

Price charts Tocom (Tokyo)

Rubber mirrors global trend, climbs to Rs 73 Business Standard (India)

Rubber prices at new highs Business Line (India)

Rubber hits new high Sify (India)

Tokyo rubber prices soar to 21-year high Business Times (Malaysia)