Malaysian rubber prices to remain high long term.Rubber prices, which are at 20-year highs, will stay firm in the long term as global demand outstrips supply and oil prices boost the cost of alternatives, the Malaysian industry said in a report. Demand from China's automotive sector is said to be among the factors pushing up the price of natural rubber, along with sky-rocketing oil prices which are boosting the cost of synthetic rubber synthetic rubber: see rubber. . "The shrinking of total rubber area in the world, high oil prices, expansion of the world's car industry and growth in the medical areas also lend support to the strong price," the Malaysian Rubber Board's deputy director general Mohamed Akbar Mohamed Said told The New Straits Straits: see Dardanelles; Bosporus. " Times newspaper. The daily cited a study by the London-based International Rubber Study Group, which forecast rubber prices to stay firm to 2020 because synthetic rubber prices are expected to increase to well over $2.50 (9.20 ringgit ring·git n. See Table at currency. [Malay.] Noun 1. ringgit - the basic unit of money in Malaysia; equal to 100 sen ) per kilo Thousand (10 to the 3rd power). Abbreviated "K." For technical specifications, it refers to the precise value 1,024 since computer specifications are based on binary numbers. For example, 64K means 65,536 bytes when referring to memory or storage (64x1024), but a 64K salary means $64,000. . Mohamed Akbar said natural rubber producers are working hard to ensure that the price of their produce did not fall below the 5.00-6.00 ringgit per kilo level. Thailand, Indonesia and Malaysia, said to be the world's top three rubber producers, respectively, account for some 80% of the world's natural rubber output, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the report. |
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