India Rubber: Prices down in Kerala on tepid demand; outlook weak

Informist, Monday, Dec 26, 2022

Mridula Lathan

MUMBAI – Prices of natural rubber fell today in the key markets of Kerala due to weak demand amid sufficient supply. Since Dec 1, prices of the commodity have fallen around 7% in the markets of Kerala. 

* Demand from stockists has been weak, and it will only improve when the price outlook for the commodity becomes positive, said C.J. Augustine, the owner of Chettiparambil Traders. 

* Additionally, cheaper rubber from overseas and northeastern states to some extent, weighed down on the price in Kerala. 

* There is enough supply in the market as it is the peak tapping season for rubber, local traders said. 

* Futures contracts of natural rubber on Japan’s Osaka Exchange ended largely steady today amid thin volume. Prices had fallen in early trade today on concerns over rise in COVID-19 cases in 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 133-134 rupees per kg, down 1 rupee from the previous trading day. 
–The most-active May contract on the Osaka Exchange was up 0.1 yen, at 217.1 yen (135 rupees) per kg. The June contract is expected to become active from this week.

End

US$1 = 82.65 rupees

Edited by Maheswaran Parameswaran

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Source: Cogencis