Lack of demand especially from China due to its high level of rubber inventory is likely to drag prices in Malaysia down next week.
Thailand also was selling their latex at lower prices compared to the market in Malaysia, a dealer said.
Rising supply from major rubber producing countries could also put pressure on prices, he added.
This week, the Malaysian Rubber Board's official daily physical price for tyre-grade SMR 20 dropped 114.5 sen to 1,363.5 sen per kg from 1,478 per kg while latex-in-bulk fell 43.5 sen to 985.5 sen per kg from 1,029.0 sen per kg.
Meanwhile, the unofficial price for tyre-grade SMR 20 fell 105.0 sen to 1,365.0 sen per kg from 1,470.0 sen per kg and latex-in-bulk slipped 43.0 sen to 982.0 sen per kg from 1,025.0 sen per kg.
The market will close on Monday due to Labour Day holiday. -- Bernama
(Source: http://www.btimes.com.my/articles/20110430114930/Article/)
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