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India Rubber: Prices in Kerala extend fall on tepid demand

Informist, Friday, Dec 3, 2021

 

By Rahul Dhuri

 

MUMBAI – The prices of natural rubber in the key markets of Kerala extended Thursday’s fall due to sluggish demand from domestic stockists after the recent surge in prices.

 

* A fall in the global market further weighed down rubber prices in the spot markets of Kerala. However, tight supply in the domestic market limited the fall in prices, said Raju Varghese, owner of Polachirayil Traders in Kottayam. 

 

* In Kerala, the largest rubber producer in the country, heavy rainfall has delayed the tapping of rubber trees. Rains impaired output in October and November, though official data is yet to come. Production is not expected to exceed 45,000-50,000 tn compared with an average output of 75,000 tn per month, according to the Automotive Tyre Manufacturers Association.

 

* Rubber contracts on the Tokyo Commodity Exchange ended in the red today due to strength in the Japanese yen against the dollar. However, low supply in the global market limited the downside, analysts said. 

 

* Supply remains tight largely due to unseasonal torrential rains and floods that have affected the major rubber-growing regions of Thailand, Malaysia, and India. Thailand and parts of Malaysia reportedly experienced an extended rainy season due to the La Nina weather phenomenon, the Association of Natural Rubber Producing Countries said. 

 

* Following are the highlights of today’s trade:
–The widely traded RSS-4 variety was quoted at 189-190 rupees per kg today, down 1 rupee from Thursday.

–The most-active April contract on the TOCOM ended at 232.7 yen (154.42 rupees), down 2.7 yen from the previous close.

End

 

Edited by Michael Correya

 

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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