Tocom Rubber Rises; Vietnam Group Urges Action

8 October 2014, 09:24 SEAST

Tocom RSS3 rubber futures are higher as producer groups are urging action to combat persistently weak prices.

Latest to join the fray is the Vietnam Rubber Association (VRA), which is advising members not to offer rubber at prevailing low prices.

Members and growers are facing major difficulties due to prices of rubber falling production costs and “their livelihoods are seriously affected,” says VRA chairman Tran Ngoc Thuan in a letter to the International Rubber Consortium., which is posted on IRCo’s website.

Benchmark March rubber trades Y2.8 higher at Y182.2/kg.