Japanese rubber futures rose to a 3-1/2-week high on Monday, as a recovery in automobile sales in Japan increased prospects for stronger tyre demand while the yen’s decline to a fresh one-year low prompted buying.

The Rubber Board under the Union ministry of commerce and industry has set an ambitious target of setting up rubber plantations on 10,000 hectares of land across north Bengal in next two years to augment rubber production in the country.

Glove counters are on the rise after Hartalega Holdings Bhd posted better quarter-on-quarter results which saw the nitrile glove maker returning to the black with a net profit of RM27.7mil in the second quarter of financial year 2024 (2Q24) as compared to a net loss of RM52.5mil in 1Q24.

Prime Minister Datuk Seri Anwar Ibrahim has urged the European Union (EU) to recognise and appreciate the efforts of palm oil producing countries in meeting the EU Deforestation-free Regulation (EUDR).

Japanese rubber futures rose to a two-week high on Friday, buoyed by a softer yen and yuan, although deflationary indicators in China limited the gains.

Malaysia’s natural rubber (NR) production increased by 4.7% to 32,773 tonnes in September from 31,309 tonnes in August, said the statistics department.

Japanese rubber futures ended unchanged on Tuesday, as poor economic data from Japan offset support from a soft yen and signs of recovering Chinese demand.

Sri Trang Gloves (Thailand) posted net profit of THB47.4 million ($1.77 million) for 3QFY2023 ended Sept 30, up 212.5% q-o-q and 117.6% y-o-y.