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India Rubber: Prices extend gains in Kerala on fresh demand

Informist, Monday, Sep 26, 2022

 

By Rahul Dhuri

MUMBAI – Prices of natural rubber in the key markets of Kerala extended gains due to improved purchases by stockists after the recent fall in prices, traders said.

 

* However, tepid demand from tyre-making companies amid expectation of a rise in arrivals capped the gains, said Raju Varghese, the owner of Kottayam-based Polachirayil Traders. 

 

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

 

* Rubber prices were down in early trade today due to high seasonal supply and prospects of weak demand. The global supply of natural rubber is expected to rise as tapping is likely to gain pace and remain good till January. Also, demand from tyre companies may not be strong due to a likely downturn in the global economy. 

 

Following are the highlights of today’s trade:

–The widely-traded RSS-4 variety was sold at 150-151 rupees per kg, up 1 rupee from the previous day. Kerala accounts for nearly 70% of India’s rubber output.

–The most-active February contract of rubber on the Osaka Exchange was up 0.3 yen, at 224.0 yen (127.29 rupees) per kg.

 

End

 

US$1 = 81.62 rupees

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

 

Edited by Vandana Hingorani

 

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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