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India Rubber: Prices extend fall in Kerala on weak local demand

Informist, Wednesday, Jul 20, 2022


By Rahul Dhuri


MUMBAI – Prices of natural rubber extended Tuesday’s fall in key markets of Kerala due to weak demand from bulk buyers. However, tight supply limited the fall in prices, traders said.

* There are supply concerns as rain in key producing regions has affected tapping activity. Supply concerns will continue till mid-September, said Raju Varghese, the owner of Kottayam-based Polachirayli Traders.


* In the global market, prices of natural rubber closed higher on Japan’s Osaka Exchange due to value buying by investors after the recent fall in prices, analysts said.


* However, the near-term outlook remains weak due to concerns about demand from major global buyers. A rise in global output amid waning demand for natural rubber latex from major importing countries is also seen weighing on the sentiment, industry experts said.


* There are demand concerns due to a rise in COVID-19 cases in China and the growing risk of a global economic recession, market participants said.


* China is the world’s top consumer of natural 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 172-173 rupees per kg, down 1 rupee from the previous day.  

–The most-active December contract on the Osaka Exchange was up 1 yen at 240.5 yen (139.62 rupees) per kg. 


US$1 = 79.99 rupees

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT


Edited by Namrata Rao



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Source: Cogencis

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