Kuala Lumpur:The Kuala Lumpur rubber market concluded with higher prices on Wednesday, influenced by the performance of regional rubber futures markets amidst a tighter rubber supply.

According to BERNAMA News Agency, disruptions caused by weather conditions have impacted rubber supplies across key producing areas. Indonesia is experiencing haze, Thailand is dealing with unpredictable weather, and Côte d'Ivoire faces port congestion, all contributing to raw material shortages and shipment delays.

In eastern Thailand, floods and heavy rainfall have damaged approximately 22,636 hectares of rubber plantations, affecting 7,679 growers and disrupting tapping activities, according to a dealer's statement.

Market sentiment has also been boosted by higher crude oil prices due to renewed concerns over potential supply disruptions and a positive demand outlook for natural rubber. A more balanced supply-demand outlook in the glove sector, along with sustainable demand growth of about 10 percent, is supporting a healthier market environment.

However, the gains were somewhat limited by concerns regarding the global economic outlook. This is due to the widening trade deficit in the United States and warnings from the International Monetary Fund about persistent energy prices and increasing global debt.

By 3 pm, the price of Standard Malaysian Rubber 20 (SMR 20) increased by 2.5 sen to 1,056 sen per kilogram, while bulk latex rose by 5.5 sen to 764 sen per kilogram.