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India Rubber: Prices up in Kerala on low supply, rising local demand

Informist, Friday, Jul 1, 2022

 

By Rahul Dhuri 

 

MUMBAI – Prices of natural rubber in key markets of Kerala rose today due to concerns over supply. Improved demand for the commodity from domestic stockists further supported prices, traders said.

 

* Lower availability of raw material is expected to support prices as rains in key producing regions have affected tapping activity, said Joy Alencherry, owner of Kerala-based J&J Trade Links. 

 

* In global markets, futures contracts of natural rubber rose today on hope of a recovery in demand from China, one of the top consumers, and tracking gains in crude oil prices on the New York Mercantile Exchange, analysts said.

 

* Demand for rubber from China is expected to increase as the country has begun to ease some COVID-19 restrictions. 

 

* Crude oil prices on NYMEX rose today after falling 3% in the previous session due to lower-level buying by investors. Natural rubber prices take cues from movement in crude oil as the latter is used to manufacture synthetic rubber.

 

Following are the highlights of today’s trade:

–In Kerala, which accounts for nearly 70% of India’s natural rubber output, the widely traded RSS-4 variety was sold for 179-180 rupees per kg, up 1 rupee from the previous day.

–The most active November contract on Osaka Exchange was up 2.4 yen at 256.0 yen (149.59 rupees) per kg. 

 

End

 

Edited by Tanima Banerjee

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. 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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