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Prices of Indonesian rubber up

Rabu, 11 Juli 2012 01:47 WIB | 3.693 Views
Medan (ANTARA News) - The price of Indonesian rubber rose in international markets on Tuesday following plan to cut exports .

Rubber exporters in North Sumatra, the country`s largest rubber producing province, announced last week they would cut exports if the price remained below US$3 per kilogram.

The price of Indonesian rubber of the SIR 20 type had moved closer to US$3 per kilogram, the Indonesian association of rubber companies said.

The price of that commodity was US$2,901 per kilogram on Tuesday, association secretary Edy Irwansyah said.

The price at the Singaporean market was US$2,910 on 10 April for August`s shipment, up from US$2,905 on 9 April.

The price of the SIR 20 rose for September`s shipment to US$2,920 from US$2,913, he added.

The prices on the domestic market followed the trend in international markets, he said.

Exports in North Sumatra said the prices are still fluctuating below US$3 per kg , therefore, exporters still restrain from starting exports.

Exports support the plan of the association to cut exports by 15 percent - 20 percent from that province until the price reaches the level of US$3 per kg. (AS/ASG/YH)