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India Rubber: Prices up in Kerala on fresh buying amid tight supply

Informist, Wednesday, May 4, 2022

 

By Puja Das

 

NEW DELHI – Prices of natural rubber rose for the third successive day in the key markets of Kerala due to buying from domestic stockists amid tight supply, traders said.

 

* “Non-tyre buyers are slowly returning to the market and limited stock with traders is lending support to the prices,” said Sebastian Thomas, Hindustan Rubber Trading Co in Kozhikode. 

 

* Supply remains tight in Kerala, India’s biggest producer of the commodity, as rubber tapping had been affected due to a rise in temperature earlier, and now as there is heavy rainfall, said Thaha Mohamed, the owner of Sara Traders based in Kottayam, Kerala, adding that these may elevate prices further.

 

* The automobile industry is facing various challenges, including high commodity costs, shortage of semiconductors, a rise in COVID-19 cases, and disruptions caused by the Ukraine-Russia war, industry experts said.

 

* In the global market, natural rubber prices on Japan’s Osaka Exchange were unavailable today, as the market is shut on account of Greenery Day. The market will remain shut on Thursday too on occasion of Children’s Day, and the bourse will resume trade on Friday.

 

Following are the highlights of today’s trade:

–The widely-traded RSS-4 variety of rubber was sold at 171-172 rupees per kg, up 1 rupee from the previous day. In the coming week, prices are seen at 170-176 rupees per kg, market participants said. End

 

Edited by Maheswaran Parameswaran

 

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. 2022. All rights reserved.

 

Source: Cogencis

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