Rubber price continued to strengthen at the end of trading the third day in a row on Thursday (14/12/2017).
The price of rubber for delivery in May 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed up 0.54% or 1.10 points at 205.30 yen per kilogram (kg).
Earlier, the May contract price opened down 0.15% or 0.30 points at 203.90, after trading Wednesday (13/12/2017) ended up 0.1% or 0.2 point at 204.2 yen per kg.
Kazuhiko Saito, commodities brokerage analyst Fujitomi said there was growing speculation that shipments from Thailand would decline following government efforts to suppress exports.
"In addition, there is a decrease in seasonal production that occurs," said Saito, as quoted by Bloomberg.
Earlier, Agriculture and Cooperative Minister Grisada Boonrach said the government was balancing to cut rubber production and boost local demand to shore up prices.
In line with rubber, the Japanese yen exchange rate was down 0.17% or 0.19 points to 112.73 yen per US dollar at 14.26 pm.
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