Indonesia Natural Rubber Prices Keep Rising
As the outputs of major natural rubber producing countries decrease, the export price of Indonesia SIR 20 rubber kept rising in the international market to 1.6 U.S. dollars/kg.
Edy Irwansyah, executive secretary general of Gapkindo Sumatera Utara said the continuous natural rubber price growing is within expectation.
He attributed the pricing rising to two reasons: first, Indonesia has entered the rainy season and the output of natural rubber has declined; second, the foreign exchange of international trade has changed.
As rubber prices increase, prices of raw materials for rubber processing have also grown.
Edy said local producers and farmers anticipate rubber prices to go up further.
Market analysts reckon that from the end of 2016 to early 2017, the demands of tire and relevant industrial producers on rubbers keep rising, rubber prices will ascend further or keep at a high level.
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