21 Oct 2005
Singapore -- Prices of technically-specified rubber rose to a new 17-year high in Singapore yesterday. According to the SICOM website, TSR20 FoB rubber closed at 164.5 US cents/kg on Thursday evening, while in Kuala Lumpur, prices went through the RM6/kg mark, the highest since the AIDS-fuelled crisis of 1988. At that time, the price touched RM10/kg.
Prices have increased in recent days because of long-term demand from China, exacerbated by short-term demand in the wake of Typhoon Damrey, which damaged rubber plantations on Hainan and in Vietnam.
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Business Times (Malaysia) story
Website of Sicom (Singapore Commodity Exchange)
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