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India Rubber: Rises in Kerala as sentiment remains firm; TOCOM shut

Informist, Wednesday, Nov 3, 2021


By Rahul Dhuri


MUMBAI – Natural rubber prices in the key markets of Kerala extended gains from Tuesday as the near-term sentiment remained firm due to supply concerns amid improved demand from domestic bulk buyers, traders said.


* Torrential rains in Kerala have devastated crops spread over 18,764.72 ha, leading to a loss of 2.81 bln rupees to farmers. Nearly 74,780 farmers in the state have been affected by landslides and flash floods, said Deepthi Varadan, a senior official at the state’s Department of Agriculture Development and Farmers’ Welfare.


* On the Tokyo Commodity Exchange, rubber prices were unavailable as the exchange was shut today on account of Culture Day. Trade is likely to resume from Thursday.


* The outlook for rubber remains firm in the near term due to expectations of a rise in demand from bulk buyers,


* The Association of Natural Rubber Producing Countries has revised the outlook for world natural rubber as member governments updated their figures for 2021. World production is likely to fall 1.4% to 13.787 mln tn, while demand is expected to rise 8.9% to 14.116 mln tn in 2021.


* Following are the highlights of today’s trade:
–The widely traded RSS-4 variety was quoted at 176-178 rupees per kg, up 1 rupee from Tuesday. End


Edited by Snigdha Kuttikat


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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