Colombo Rubber Traders’ Association (CRTA) stresses that the rubber harvest has significantly dropped as a result of the ‘leaf fall disease’ in rubber trees for several years.

Japanese rubber futures spiked on Friday to their highest levels since early June and recorded their best week since November 2021, as a softer yen made the commodity more affordable for overseas buyers.

Japanese rubber futures rose to their highest in three weeks on Monday, tracking strength in the Shanghai market as authorities a day earlier vowed to coordinate support to resolve local government debt, while weak Asian currencies also lent some support. Osaka Exchange’s rubber contract for January delivery recorded a five-day uptick, finishing 1.5 yen, or 0.8%, higher at 200.1 yen ($1.38) per kg. The rubber contract on the Shanghai futures exchange for January delivery jumped 180 yuan to finish at 13,000 yuan ($1,777.17) per metric ton. Japan’s benchmark Nikkei average closed up 0.37%. China will coordinate financial support to resolve local government debt problems, the central bank said in a statement on Sunday.

Comfort Gloves Bhd posted a net loss of RM4.18 million or 0.72 sen per share for the second quarter ended June 30, 2023 (2QFY2023), versus a net profit of RM3.2 million or 0.55 sen per share a year earlier.

The national vice chairman of Natural Rubber Producers, Processors and Marketing Association of Nigeria, NARPPMAN, Mr Usen Umoh, has called on Nigerians, particularly rubber farmers to intensify efforts at replanting their aging plantations as the sub-sector will determine the country’s economic direction in the near future.

Japanese rubber futures surged on Wednesday to the highest levels in two months and posted their best day since early-June, as subdued Asian currencies offset concerns over disappointing domestic economic data.

Nigeria and major producers in West Africa are losing yearly in the global rubber market estimated at $49 billion.

China will likely purchase 8 million tons of Indonesian palm oil in 2024 after imports suffered a decline amid the Covid-19 pandemic, according to an association of the commodity’s producers.