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India Rubber: Prices up in Kerala on low supply, high demand

Informist, Friday, Dec 30, 2022

 

By Mridula Lathan

 

MUMBAI – Prices of natural rubber rose for a third consecutive day in the key markets of Kerala due to low supply amid higher demand, local traders said. The number of transactions was also very low in the market today due to fewer sellers. 

 

* Supply was less in the market as sellers were holding back the stock in expectation of an increase in prices in the coming days, said Thaha. K. Mohamed, the owner of Sara Traders. 

 

* Despite being the peak tapping season for rubber, the availability of the commodity is less in the market due to lower production. 

 

* Demand from dealers was also high due to short covering, said Kurian Abraham, a local trader. 

 

* From Wednesday, prices started rising for RSS-4 variety of rubber in Kerala after a month-long downtrend due to tepid demand and higher supply. 

 

* Futures contracts of natural rubber fell marginally today on Japan’s Osaka Exchange due to a strong yen. Strengthening of the Japanese currency against the dollar dents demand for yen-denominated rubber as it makes the commodity expensive for buyers holding other currencies. 

 

Following are the highlights of today’s trade:

–The widely-traded RSS-4 variety was at 136-137 rupees per kg, up 1 rupee from the previous day.

–The most-active June contract on the Osaka Exchange was down 0.5 yen at 217.5 yen (136 rupees) per kg.  End

 

Edited by Tanima Banerjee

 

 

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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