Informist, Friday, Oct 22, 2021
By Rahul Dhuri
MUMBAI – Prices of natural rubber in the key markets of Kerala extended gains from Thursday due to renewed demand from domestic stockists amid concerns over supply, traders said.
* There are concerns about supply as heavy rains in the key growing areas of Kerala have disrupted tapping, said Joy Alencherry, owner of Maria Rubber Links based in Kottayam.
* On the Tokyo Commodity Exchange, the March rubber contract ended up on expectations of higher demand and a likely rise in crude oil prices, analysts said.
* Natural rubber takes cues from crude oil as the latter is used to make synthetic rubber.
* Following are the highlights of today’s trade:
–The widely traded RSS-4 variety was quoted at 173-174 rupees per kg, up 1 rupee from Thursday.
–The March contract on TOCOM ended at 232.1 yen (about 152.62 rupees), up 1.2 yen from the previous close. End
Edited by Rajendra Masur
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Source: Cogencis
