Top rubber producers plan to sharply hike prices, stop SICOM delivery

April 22, 2015 3:01 AM

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SINGAPORE, April 22 (Reuters) - Big Asian rubber producers, including world No. 1 Sri Trang Agro-Industry Plc, are set to hike prices sharply, ditching a system of pegging prices near a benchmark set by the Singapore SICOM exchange.

The producers plan to charge a significant premium over the exchange-traded futures contract from the second half of 2015, a move that marks a radical pricing change in an industry where plummeting prices have hit farmers badly.

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