Informist, Wednesday, Feb 23, 2022
By Kavita Desai
MUMBAI – Prices of natural rubber rose today in key markets of Kerala. Meanwhile, the Tokyo Commodity Exchange was shut on account of Emperor’s birthday. Trading on the bourse will resume on Thursday.
* A pick up in demand from domestic bulk buyers and limited supply in the market supported prices in Kerala. Supply remained low as peak tapping season has almost ended, said Idukki-based rubber trader C.J. Augustine.
* Overall outlook for the commodity is positive as expectations of a rise in global demand, especially from top consumer China due to resumption of economic activities, is likely to support prices in the near term, industry experts said.
* China represents around 43% of the global demand for natural rubber.
Following are the highlights of today’s trade:
–The widely traded RSS-4 variety was at 162 rupees per kg, up 1 rupee from the previous close. End
Edited by Deepshikha Bhardwaj
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Source: Cogencis
