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India Rubber: Prices steady in Kerala; near term outlook weak

Informist, Friday, Aug 12, 2022

 

By Rahul Dhuri

MUMBAI — Prices of natural rubber were largely unchanged in key markets of Kerala today. However, the near term outlook remains weak due to tepid demand from domestic bulk buyers and stockists, traders said.

 

* Concerns related to supply have arisen as rainfall in key producing regions of Kerala has affected tapping activity, which is likely to cushion a sharp fall in rubber prices, said Joy Alencherry, the owner of J&J Trade Links in Kottayam. 

 

* These concerns are likely to persist till mid-September until tapping picks up pace, traders said.

* Prices of natural rubber on Japan’s Osaka Exchange recouped losses and ended marginally higher due to value buying by investors after the recent price fall, analysts said.

* The near-term outlook for rubber remains weak due to a rise in global output, industry experts said.

 

* Fresh virus flare-ups in China, the world’s top consumer of natural rubber have dampened the global demand outlook.

 

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 166-167 rupees per kg, unchanged from the previous day.

    –The most active January contract of rubber on the Japanese bourse settled 0.4 yen higher at 229.1 yen (136.54 rupees) per kg.  End

 

US$1 = 79.65 rupees

 

Edited by Sushmita Mukherjee

 

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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