Informist, Tuesday, Jun 28, 2022
By Uddipta Banerjee
NEW DELHI – Prices of natural rubber remained largely unchanged in the key markets of Kerala today, and are likely to remain steady or slightly higher over the next four-five sessions due to supply concerns and firm demand, experts said.
* In the coming week, prices are seen rising to 180-185 rupees per kg.
* “Lower availability of raw material is seen supporting prices as rains in the key producing regions has affected the tapping activity,” said C.J. Augustine, the owner of Idukki-based Chettiparambil Traders.
* In the global market, futures contracts of natural rubber ended higher today on the back of a rise in crude oil prices, as the former is used in making synthetic rubber.
* However, a resurgence of coronavirus cases in the tech hub of Shenzhen and other cities in China weighed on demand. China accounts for 42% of the global demand for natural rubber.
* A rise in global output of rubber is further seen weighing on rubber prices. Global production of natural rubber rose to 991,000 tn in May, the Association of Natural Rubber Producing Countries said in a monthly report. In April, global production was at 941,000 tn.
Following are the highlights of today’s trade:
–In Kerala, the widely traded RSS-4 variety was sold at 179 rupees per kg, unchanged from the previous day.
–The most-active November contract on the Japanese bourse was up 2.2 yen at 258.4 yen (149.8 rupees) per kg.
Edited by Avishek Dutta
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