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Thursday, September 29, 2022

India Rubber: Prices at 6-week low in Kerala on dwindling demand

Informist, Friday, Jul 15, 2022


By Rahul Dhuri 


MUMBAI – Prices of natural rubber slipped to a six-week low in key markets of Kerala due to dwindling demand from bulk buyers and domestic stockists. However, tight supply limited the fall in prices, traders said.


* Rains in key producing regions have affected tapping, leading to concerns about supply, which would persist till mid-September until tapping gains pace, said Joy Alencherry, owner of J&J Trade Links in Kerala.


* In the global market, futures contracts of natural rubber erased early gains on Japan’s Osaka Exchange and closed marginally lower due to concerns over demand from bulk buyers, analysts said.


* Demand from China remained weak due to a surge in COVID-19 cases. China is the world’s top consumer of natural rubber.


* Waning demand for natural rubber latex from major importing countries and growing risk of a global economic recession further weighed on sentiments, industry experts said. 


* Rubber prices rose in early trade today due to value buying by investors after a recent fall in prices. A rise in crude oil prices further supported gains in rubber prices.


* 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 at 173 rupees per kg, down 1 rupee from the previous day.

–The most-active December contract on the Osaka Exchange was down 0.2 yen at 241.3 yen (138.68 rupees) per kg. 




Edited by Vidhi Verma


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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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Source: Cogencis

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