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SINGAPORE (Dow Jones)–Thailand”s physical USS3 grade raw material prices for rubber have risen above THB65 a kilogram, up 30% since the beginning of last month, due to tight supply amid heavy rain and slow tapping of trees, trading executives said Wednesday.
Thai USS3 rubber was sold in the three central markets at THB64.91-THB65.03/kg, up from THB63.89-THB64.70 the previous day, a Hat Yai-based trader said.
Combined daily sales in the three central markets is estimated at 64 metric tons compared with 49 tons Tuesday, he said. Total sales have exceeded 100 tons only 25 times so far this year.
Some producers of rubber sheets say the cost of production is higher than prices at which RSS3 grade is now being offered in the market.
They have pinned their hopes on dry weather for the last 24 hours in some of the rubber growing regions, which may prompt growers to resume tapping.
Source: Dow Jones