MUMBAI (Commodity Online): Rising demand for natural rubber from tyre makers amid declining production in top producing countries may keep the global price up in the coming days.
Many rubber producing areas in Thailand and Indonesia is experencing low latex production on bad weather conditions.
This declining production of rubber coupled with easing global crisis is heating up the price of the commodity.
Rubber futures in Tokyo Commodity Exchange (TOCOM), gained for the fourth day. For July delivery advanced 2.8% to 337.6 yen a kilogram, the highest settlement level since September 22.
The raised after Europe agreed on a second bailout for Greece.
Rubber for March delivery, in TOCOM traded at 323.5 yen a Kg and in National Multi Commodity Exchange (NMCE) traded at Rs 18,690 per ton on 22nd February.
