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
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