Tocom Surges To 3-Month High
4 March 2016, 17:00 SEAST
Natural Rubber (NR) price on Tokyo Commodity Exchange (TOCOM) jumped 11.49% (18.0 yen) from 156.6 yen/kg on 1 March (Tue) to 174.6 yen/kg on 4 March (Fri) 2016.
This was the highest price level in 3 months supported by a recovery in commodity prices and tighter supply due to the wintering season in Southeast Asia as well as export cuts under Agreed Export Tonnage Scheme (AETS) by International Tripartite Rubber Council (ITRC) countries.
Under AETS, Thailand, Indonesia, Malaysia and a strong possibility of Viet Nam joining, agreed to cut exports for 6 months (March to August 2016).