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India Rubber: Prices rise in Kerala tracking global mkt, local buys

Informist, Tuesday, Oct 26, 2021

 

By Rahul Dhuri

 

MUMBAI – Prices of natural rubber in key markets of Kerala rose today, tracking gains in the global market, where prices increased due to expectation of a rise in demand from major bulk buyers, analysts said.

 

* Fresh demand from bulk buyers and domestic stockists, as well as a delay in tapping due to heavy rainfall in Kerala are likely to create a supply crunch in the market, which supported prices, said Roy Kurian, the owner of Chenattumattom Traders based in Kottayam.

 

* Supply is likely to be tight due to heavy rain in Kerala, which is the biggest producer, and prices may remain firm in the near term, industry experts said.

 

* On the Tokyo Commodity Exchange, the March rubber contract ended higher due to expectation of a rise in demand from major bulk buyers. The easing of COVID-19 related restrictions and a rise in economic activity have improved demand prospects for natural rubber, analysts said.

 

* Following are the highlights of today’s trade:
–The widely traded RSS-4 variety was quoted at 172-173 rupees per kg, up 1 rupee from Monday.

–The March contract on TOCOM ended at 235.8 yen (about 155.2 rupees), up 2.7 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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© Informist Media Pvt. Ltd. 2021. All rights reserved.

Source: Cogencis

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