Malaysian rubber prices are expected to be higher next week on rising concerns over tight supplies globally, dealers said.
With Thailand, the largest producer showing a decline in production, coupled with the wintering season, prices are expected to be pushed higher, said a dealer.
China, the largest importer of the commodity, will release some of its natural rubber stock on April 23, to ease the local price for the commodity.
On a week-to-week basis, the Malaysian Rubber Board official physical price for tyre-grade SMR 20 improved 11.5 sen to 1,070.5 sen per kg from 1,059 sen per kg while latex in bulk increased 17 sen to 774.0 sen per kg from 757.5 sen per kg previously.
The unofficial closing price for SMR 20 rose 12.5 sen to 1,071.0 sen per kg from 1,058.5 sen per kg last week and latex in bulk gained 17 sen to 775.5 sen per kg from 758.5 sen per kg previously.
(btimes.com.my)
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