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Wednesday, February 1, 2023

India Rubber: Prices steady in Kerala on fewer transactions

Informist, Wednesday, Jan 4, 2023

 

By Arunima Bharadwaj

 

NEW DELHI – Prices of natural rubber remained steady today in the key markets of Kerala on account of fewer transactions amid a decline in supply of the commodity and firm demand, local traders said.

 

* Rubber prices were steady today as traders are holding on to stocks due to expectations of a rise in prices in the coming days, said C.J. Augustine, a local trader.

 

* Demand from stockists has also started rising, said Thaha K. Mohamed, the owner of Sara Traders. 

 

* According to traders, production in Kerala has fallen this year due to unfavourable climatic conditions and lower prices in the market.

 

* Futures contracts of natural rubber on Japan’s Osaka Exchange rose marginally today due to value buying after prices declined in the past few sessions. The expectation of higher demand from top consumer China as it exits COVID-19 lockdowns and further stimulus support by the country to revive its ailing economy will keep prices supported.

 

Following are the highlights of today’s trade:

–The widely-traded RSS-4 variety was at 138 rupees per kg, unchanged from the previous day.

–The most-active Jun contract on the Osaka Exchange was up 0.4 yen at 222 yen (140.67 rupees) per kg.  End

 

Edited by Avishek Dutta

 

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. 2023. All rights reserved.

Source: Cogencis

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