S'pore rubber frets over Indonesian fires<\/p>\n
SINGAPORE (Reuter): The Singapore rubber trade was concerned
\nyesterday over news that some Indonesian rubber plantations have
\nbeen hit by rampaging forest fires and said prices will probably
\nfirm as a result, dealers said.<\/p>\n
"It will firm up the market next week. We were sort of
\nexpecting it because there are many plantations there scattered
\nall over the place," a dealer said.<\/p>\n
Indonesian Agriculture Minister Sjarifuddin Baharsjah said
\nsome 173 plantations were on fire on Sumatra and Sulawesi islands
\nand in Kalimantan and that the blaze will have an impact on
\nsupplies of both commodities.<\/p>\n
"There's no reaction today, but we'll see the impact on prices
\nnext week. That's when the trade will get a chance to assess what
\nthe Indonesian supply situation will look like," a dealer said.<\/p>\n
Traders said it was still hard to get an assessment of the
\nactual damage inflicted on Indonesian rubber plantations. "We're
\nwaiting for more reports to come in," a dealer said.<\/p>\n
At around 0945 GMT, November RSS3 was seen at 88.50-89.50 U.S.
\ncents a kg from the previous 88.75 cents.<\/p>\n
In Tokyo, rubber futures ended mostly firmer on Friday, as
\nforest fires in Indonesia provided support to the market, traders
\nsaid.<\/p>\n
Prices ranged from flat to 0.9 yen per kg higher. Benchmark
\nMarch was up 0.9 yen at 120.1 yen. Activity was lackluster.
\n"Concern that forest fires in Indonesia could disrupt rubber
\noutput in the country stimulated short-covering," one trader
\nsaid. "But I don't think rubber prices will rise further on that
\nfactor. The overall demand\/supply relationship in rubber-
\nproducing countries has not improved yet," he said.<\/p>",
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