Benchmark TOCOM rubber futures extended gains on Thursday to hit a six-week high, supported by a weaker yen and a Thai scheme to support its rubber farmers. The Tokyo Commodity Exchange rubber contract for March delivery had risen 0.2 yen to 193.3 yen per kg by 0039 GMT. It earlier marked 196.0 yen - its highest since September 9.
Thailand's cabinet passed a 58 billion baht ($1.8 billion) plan on Tuesday to support rubber farmers who, reeling from a slump in prices, had threatened protests against the military-led government. The scheme will include direct payments to farmers based on how much land they farm plus buying in the market by the Rubber Estate Organisation, a state agency.
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