Cambodia is set to offer tax incentives for another two years on rubber exports, starting from January 1, 2024, aiming to encourage cultivation and support growers and exporters in the face of declining prices due to a drop in international demand.

In the first quarter of the calendar year 2024 rubber prices are poised to surge which will provide relief to the rubber farmers in Kerala.

The Malaysian rubber market closed lower today, pressured by weaker sentiment in regional rubber futures markets, said a dealer.

As many as 21 Vietnamese rubber enterprises have been branded with the trademark “Vietnam Rubber”, which was registered for the protection of intellectual property in China, India, Taiwan (China), Laos and Cambodia.

Japanese rubber futures hit a three-week peak on Tuesday, driven by optimism about increased stimulus measures in China and concerns over potential supply shortages from top-producer Thailand. The Osaka Exchange (OSE) rubber contract for June delivery was up 0.7%, or 1.6 yen, at 249.6 yen ($1.75) per kg at closing.

Japanese rubber futures fell for a second day on Tuesday, hitting its lowest in more than two months although the Bank of Japan’s decision to maintain its ultra-loose monetary policy limited the decline.

Japanese rubber futures eased in thin trade on Monday as investors awaited the Bank of Japan’s (BOJ) decision on whether to unwind its ultra-low rates policy during a two-day monetary policy meeting.

The government has provided more than RM600 million for the development of rubber smallholders this year, with half of it allocated to accelerate the replanting programme as the commodity is typically susceptible to price fluctuations.