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India rubber: Prices unch in Kerala; near-term outlook weak

Informist, Wednesday, Nov 30, 2022

 

By Mridula Lathan

 

MUMBAI – Prices of rubber were unchanged in key markets of Kerala today as demand from bulk buyers and supply by farmers remained steady, said local traders. 

 

* The near-term outlook remains weak over demand concerns from bulk buyers amid higher supply. The decline in demand from tyre-making companies impacted the price of natural rubber in the domestic market, as the commodity is the key raw material for the tyre industry. 

 

* The supply is expected to be high in the market as the key tapping season of rubber will last till January. 

 

* Futures contracts of natural rubber were up on Japan’s Osaka Exchange, tracking crude oil prices on the New York Mercantile Exchange. Rubber prices take cue from crude oil as it is used in the process of manufacturing synthetic rubber. 

 

* Rubber futures contracts on the Osaka Exchange were down due to concerns over demand from China. China is the largest consumer of the commodity. 

 

* Following are the highlights of today’s trade:

–The widely-traded RSS-4 variety of rubber was sold at 144-145 rupees per kg, unchanged from the previous day of trade.

–The most-active May contract on the Osaka Exchange was up by 1.3 yen at 216.8 yen (127.1 rupees) per kg. End

 

 

Edited by Manisha Baxla

 

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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