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India Rubber: Prices fall in Kerala as output seen up; down on TOCOM

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Informist, Wednesday, Oct 6, 2021

 

By Rahul Dhuri

 

MUMBAI – Natural rubber prices fell today in the key markets of Kerala due to a likely rise in output. However, improved demand from domestic stockists and bulk buyers cushioned a sharp fall in the prices, traders said.

 

* The season of peak production has started in Kerala, the country’s traditional rubber growing region, which contributes 55-60% to India’s annual natural rubber output.

 

* In India, natural rubber output in October is seen at 79,000 tn, as against 67,000 tn a month ago. Removal of COVID-19 restrictions in Kerala has considerably eased farm management operations, labour availability, and the supply network, the Association of Natural Rubber Producing Countries said.

 

* On the Tokyo Commodity Exchange, rubber contacts erased early gains and ended in red on expectation of a rise in global supply, analysts said.

 

* The global production of natural rubber is estimated to rise 12% on month to 1.26 mln tn in October, the Association of Natural Rubber Producing Countries said. 

 

* Global supply of the commodity is expected to rise in most of the major producing countries on account of favourable weather and further easing of COVID-19 restrictions, as per the association.

 

* Rubber prices on TOCOM had risen in early trade today tracking gains in crude oil prices and as consumption in Japan is set to rise following the easing of lockdowns. Natural rubber prices take cues from those of crude oil as the latter is used to manufacture synthetic rubber

 
* Following are the highlights of today’s trade:
–The widely-traded RSS-4 variety was quoted at 170-171 rupees per kg, down 1 rupee from the previous close.
–The March contract on TOCOM ended at 213.0 yen (about 143.19 rupees), down 1.5 yen from the previous close. 

 

End

 

Edited by Mainak Moitra

 

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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Source: Cogencis

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