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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.



US$1 = 82.65 rupees



Edited by Maheswaran Parameswaran



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Source: Cogencis

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