Japanese rubber futures rose on Friday, logging gains for the fifth consecutive week, as firmer oil prices and Chinese export data fuelled investor appetite. The Osaka Exchange (OSE) rubber contract for June delivery closed up 5.4 yen, or 2.12%, at 260.6 yen ($1.80) per kg.

The recent improved export data and a steady average selling prices (ASPs) for glove manufacturers point to a positive recovery in demand.

The cultivators feel that the third draft of the Bill is skewed towards the manufacturing industry. The Bill, which is likely to be introduced in Parliament before the elections, aims to promote and develop the rubber industry.

Vietnam's rubber exports reached about 2.14 million tons worth $2.89 billion in 2023, down 0.04% in volume and 12.7% in value compared to 2022, according to the Ministry of Industry and Trade.

Japanese rubber futures fell on Wednesday, as investors remained cautious over Chinese demand, although adverse weather in top exporter Thailand lent some support to the market.

The rubber plantation sector needs an estimated 80,000 workers to meet the needs of rubber smallholders, said Minister of Plantation and Commodities, Datuk Seri Johari Abdul Ghani.

Vietnam raked in US$2.89 billion from exporting 2.14 million tonnes of rubber last year, suffering a fall of 0.04% in volume and 12.7% in value compared to the figure from 2022, according to details given by the Ministry of Industry and Trade.

Japanese rubber futures ended the year with a 17.7% increase following a dip in 2022, driven by market optimism over potential stimulus measures from the Chinese government.