Rubber scales peak as floods wreak havoc in S-E Asia
Friday, 5 November 2010
TOKYO, Nov 4 (Commodity Online): Rubber prices in the Tokyo markets surged to a fresh highs on adverse climatic conditions.
According to a Bloomberg report, the rubber prices in Tokyo gained the most since September 26 as flood impact disrupted supplies.
The devastating floods in Thailand and Malaysia have raised concerns of rubber supplies that may fuel a price rally in the plant crop.
Southeast Asian countries of Thailand, Vietnam and Malaysia are badly hit by cyclones and monsoon rains during past month, killing hundreds of people and damaging agricultural land.
Floods and blackouts forced the cash-rubber center in Thailand's Songkhla province to close on November 2 to November 3, the report noted.
Meanwhile, the June-delivery contract on the Agricultural Futures Exchange of Thailand rose 1 per cent to hit an all-time high of 126.50 baht ($4.26) per kg in the morning trades today.
According to a Bloomberg report, the rubber prices in Tokyo gained the most since September 26 as flood impact disrupted supplies.
The devastating floods in Thailand and Malaysia have raised concerns of rubber supplies that may fuel a price rally in the plant crop.
Southeast Asian countries of Thailand, Vietnam and Malaysia are badly hit by cyclones and monsoon rains during past month, killing hundreds of people and damaging agricultural land.
Floods and blackouts forced the cash-rubber center in Thailand's Songkhla province to close on November 2 to November 3, the report noted.
Meanwhile, the June-delivery contract on the Agricultural Futures Exchange of Thailand rose 1 per cent to hit an all-time high of 126.50 baht ($4.26) per kg in the morning trades today.