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Wednesday, March 29, 2023

India Rubber:Prices tad down in Kerala on low demand from bulk buyers

Informist, Thursday, Feb 2, 2023


By Mridula Lathan


MUMBAI – Prices of natural rubber fell marginally in the major markets of Kerala today due to tepid demand from bulk buyers, said local traders. Since Monday, prices have shown a marginal downtrend in Kerala. 


* Demand from bulk buyers like tyre manufacturing companies and stockists was low today as they already have sufficient stocks, traders said. 


* The downtrend in global rubber prices also weighed on prices in the domestic market, said Thaha K. Mohamed, the owner of Sara Traders. Transactions were few in the market today due to low demand, and a fall in supply from sellers. Planters and stockists held back stocks in anticipation of higher prices in the coming days, said Thaha K. Mohamed.


* On Japan’s Osaka Exchange, futures contracts of natural rubber recovered today after falling in early trade. In early trade today, the most-active July contract fell to a low of 224.4 yen per kg.  


* Prices have been on a downtrend on Osaka Exchange since the beginning of this week. Natural rubber contracts on China’s Shanghai Futures Exchange also ended lower today. Cues from China are significant for rubber, as the country is the largest consumer of natural rubber.


Following are the highlights of today’s trade:

–Widely-traded RSS-4 variety was sold at 140-141.50 rupees per kg, down 50 paise from the previous day.

–Most-active July contract on the Osaka Exchange was up 1.2 yen at 226.8 yen (145 rupees) per kg




Edited by Avishek Dutta


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Source: Cogencis

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