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Commodities  |  JANUARY 27, 2016 9:35AM

Rubber market closes lower

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Kanchana Jan-on and Chalermsak Pinyakom collect rubber on a rubber plantation in Phunpin, Surat ThaniThe Malaysian rubber market closed marginally lower Wednesday as the local currency appreciated against the US dollar for the fourth consecutive day, a dealer said.

However, he said that the losses were capped by positive momentum from the Tokyo Commodity Exchange and Shanghai Futures Exchange.

“It was reported that Thailand’s cabinet has approved 15 billion baht (RM1.78 billion) in soft loans for rubber production and processing to boost rubber use and support farmers hit by falling prices,” he said.

On the home front, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 declined 7.5 sen to 458 sen a kg, while latex-in-bulk fell 2.5 sen to 375 sen a kg.

The 5pm unofficial closing price for SMR 20 rose 1 sen to 456.5 sen a kg, while latex-in-bulk decreased 3.5 sen to 373 sen a kg.



 
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