India Rubber: Prices rise in Kerala on demand from stockists

Informist, Friday, Oct 22, 2021

By Rahul Dhuri

MUMBAI – Prices of natural rubber in the key markets of Kerala extended gains from Thursday due to renewed demand from domestic stockists amid concerns over supply, traders said.

* There are concerns about supply as heavy rains in the key growing areas of Kerala have disrupted tapping, said Joy Alencherry, owner of Maria Rubber Links based in Kottayam. 

* On the Tokyo Commodity Exchange, the March rubber contract ended up on expectations of higher demand and a likely rise in crude oil prices, analysts said. 

* Natural rubber takes cues from crude oil as the latter is used to make synthetic rubber.

* Following are the highlights of today’s trade:
–The widely traded RSS-4 variety was quoted at 173-174 rupees per kg, up 1 rupee from Thursday.

–The March contract on TOCOM ended at 232.1 yen (about 152.62 rupees), up 1.2 yen from the previous close.  End

Edited by Rajendra Masur

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.

Informist Media Tel +91 (11) 4220-1000

Send comments to [email protected]

© Informist Media Pvt. Ltd. 2021. All rights reserved.

Source: Cogencis