Informist, Monday, Oct 25, 2021
By Rahul Dhuri
MUMBAI – Prices of natural rubber were largely unchanged in the key markets of Kerala today. However, the near-term outlook remains firm, due to a likely rise in 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 Raju Varghese, owner of Polachirayil Traders based in Kottayam.
* On the Tokyo Commodity Exchange, the March rubber contract ended marginally up on expectations of higher demand and tracking gains in crude oil prices, analysts said.
* Crude oil prices on New York Mercantile Exchange rose in Asian trade today due to robust demand and tight supply, which continued to support sentiment among investors.
* 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 171-172 rupees per kg, unchanged from Saturday.
–The March contract on TOCOM ended at 226.5 yen (about 149.99 rupees), up 0.5 yen from the previous close. End
Edited by Arshad Hussain
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