LONDON (March 23, 2010)—Prices of natural rubber have risen to record highs in India.
The price of RSS4 hit $3.40/kg as fears of supply shortages and news of record demand from China fueled concerns of buyers.
According to National Multi-Commodity Exchange of India Ltd., the rubber contract for July 2010 hit a high just below $3.51/kg, though later fell back to close at $3.46.
In Singapore short-term contracts for RSS3 closed at $3.34/kg, while longer-dated contracts closed at about $3.20.
In Tokyo the price was hovering at about $3.32, though again, longer-dated contracts were priced lower at about $3.20.