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Monday, January 30, 2023

India Rubber: Prices in Kerala steady on fall in supply, weak demand

Informist, Monday, Jan 9, 2023


By Mridula Lathan


MUMBAI – Prices of natural rubber were steady in major markets of Kerala today as there were fewer transactions in the market due to a significant fall in supply and subdued demand.


* Sellers are expecting that tyre manufacturing companies may quote higher prices in the upcoming days. Therefore, they are holding the stock and this affected supply in the market, local traders said.


* The early defoliation affecting the rubber trees in Kerala has also contributed to the fall in supply this year. Moreover, the peak tapping season for rubber is expected to end in late January.


* Market participants are also keen on the price trend in global markets as it may influence the domestic prices. 


* Additionally, demand from tyre makers were weak in the market today. However, a marginal demand from traders and stockists still persists in Kerala, traders said.  


* Prices of rubber futures contracts on Japan’s Osaka Exchange were unavailable today as the exchange was shut on account of Coming of Age Day holiday, and due to a disaster recovery testing. The market will resume trade from Tuesday.


Following are the highlights of today’s trade:

–The widely-traded RSS-4 variety was sold at 137-138 rupees per kg, unchanged from the previous trading day.



Edited by Tanima Banerjee



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Source: Cogencis

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