18.8 C
New York
Friday, May 20, 2022

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.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to [email protected]

 

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

Source: Cogencis

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,298FansLike
12,893FollowersFollow
751FollowersFollow
- Advertisement -

Latest Articles

Popular Articles