Informist, Thursday, Jul 14, 2022
By Rahul Dhuri
MUMBAI – Prices of natural rubber slipped to a near six-week low in the key markets of Kerala due to dwindling demand from bulk buyers and domestic stockists. However, tight supply cushioned a sharp fall in prices, traders said.
* Tepid demand from bulk buyers amid waning demand for natural rubber latex from major importing countries have weighed down on prices. However, rain in key producing regions has affected tapping, leading to concerns about supply, said Thaha Mohamed, owner of Sara Traders in Kottayam.
* In the global market, futures contracts of natural rubber on Japan’s Osaka Exchange ended flat. However, prices were down in the early trade today due to concerns over demand from bulk buyers, analysts said.
* Concerns over demand from China hit the sentiment as COVID-19 cases in the country continued to climb. China is the world’s top consumer of natural rubber.
* The sentiment is also weak due to growing risk of a global economic recession, industry experts said.
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 174 rupees per kg, down 1-2 rupees from the previous day.
–The most active December contract on Osaka Exchange was flat at 241.8 yen (139.26 rupees) per kg.
Edited by Maheswaran Parameswaran
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