India Rubber: Prices up in Kerala tracking gains in global market

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By Rahul Dhuri

MUMBAI – Prices of rose in key markets of Kerala today, tracking gains in international prices, traders said.

* On Commodity Exchange, the rubber contract ended higher due to firm demand from , the largest consumer, and concerns over global supply, analysts said. Upbeat vehicle sales in China over the past two months is also seen supporting prices. 

* Rubber output across Southeast Asia, which accounts for more than two-thirds of natural rubber supply, has been hit by labour shortages due to COVID-19, floods and unfavourable weather conditions in Thailand and Vietnam.

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* Back home, rising demand from consuming industries-–tyre and non-tyre–further supported gains in prices, said A.M.George, owner of George Rubbers in Kerala.

* Demand for tyres will be driven by in the automobile sector following an uptick in rural sales, increased preference for personal transport and festival season demand, traders said.

* The near-term outlook for rubber remains optimistic as remains firm, said Anu Pai, analyst at Geojit .

* Following are highlights of today’s :

  –In Kochi and Kottayam, the widely-traded RSS-4 variety was sold at 157-158 rupees per kg, up 1-2 rupees from Monday.

  –The most active April contract settled at 235.5 yen (about 167.09 rupees), up 0.7 yen on the Japanese bourse.  End

Edited by Nidhi Chugh

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