Indonesia Rubber Prices Surge to Record on Shortage, Group Says
This article is for subscribers only.
Rubber prices in Indonesia, the world’s second-largest producer, surged to a record $3.85 a kilogram today as heavy rains disrupted tapping, lowering production, according to the Rubber Association of Indonesia.
The price may advance to $4 a kilogram by the end of the month because of a “supply shortage” while domestic demand keeps expanding, Asril Sutan Amir, the association’s chairman said by phone today.