Informist, Monday, Jan 2, 2023
By Mridula Lathan
MUMBAI – Prices of natural rubber rose further in the key markets of Kerala today due to persistent demand from traders and stockists amid low supply, local traders said. Transactions were also few as there were fewer sellers in the market.
* Demand from traders rose as they had to fulfil contracts with tyre manufacturing companies, said Kurian Abraham, a local trader.
* Amid expectations of higher prices in the coming days, demand from stockists has also started rising in the market, said Thaha K. Mohamed, the owner of Sara Traders. Due to the same reason, sellers are holding on to stocks. This affected supply in the market and aided the uptrend in rubber prices.
* According to traders, production in Kerala has fallen this year due to unfavourable climatic conditions and lower prices in the market.
* Prices of futures contracts of natural rubber on Japan’s Osaka Exchange were unavailable as the exchange was shut today due to New Year’s holiday. It will reopen for holiday trading on Tuesday.
Following are the highlights of today’s trade:
–The widely traded RSS-4 variety of rubber was sold at 137-138 rupees per kg, up 1 rupee from the previous trading day.
End
Edited by Avishek Dutta
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to [email protected]
© Informist Media Pvt. Ltd. 2023. All rights reserved.
Source: Cogencis
