India Rubber:Prices fall in Kerala on sluggish bulk demand; TOCOM dn

Informist, Friday, Jan 14, 2022

By Rahul Dhuri

MUMBAI – Prices of natural rubber fell in key markets of Kerala today as demand from bulk buyers and tyre makers remained sluggish. A fall in prices of the commodity in the global market also weighed, traders said.

* In the global market, futures contracts of natural rubber on the Tokyo Commodity Exchange edged lower in Asian trade as the yen strengthened against the US dollar. A firm Japanese currency makes the yen-denominated commodity expensive for buyers holding other currencies.

* Profit booking by investors after gains in the last couple of days and weakness in the benchmark rubber contract on the Shanghai Futures Exchange also weighed, analysts said.  

* Following are the highlights of today’s trade:

–In the key markets of Kerala, the widely traded RSS-4 variety was sold at 158-159 rupees per kg, down 1 rupee from the previous close.

–The most active June contract on TOCOM ended at 244.5 yen (159.44 rupees), down 2 yen from the previous close.

End 

Edited by Deepshikha Bhardwaj

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Source: Cogencis