GMG Global (5IM.SG) is +4.8% at $0.325 trading with a higher-than-average volume of 32 million shares.

The rubber producer’s stock is benefiting from elevated rubber prices, with Tocom rubber futures nearing the 30-year highs hit last month; the gains are the result of tight supply in Thailand due to bad weather, and rising Chinese demand amid brisk auto sales, while the broader macro picture of stronger global PMIs, rising crude oil prices and loose monetary policy are boosting the liquidity flow into the commodities complex.

Another factor is news the UN Security Council Wednesday backed Ivory Coast opposition leader Alassane Ouattara as the winner of the nation’s bitterly disputed presidential election; GMG accounts for 12% of the country’s annual rubber exports.

A local fund manager says uncertainty over the political situation in Ivory Coast has the potential to impact GMG’s operations there. November 11’s multi-year high of $0.345 is likely a near-term cap for the stock.