Informist, Monday, Oct 18, 2021
By Rahul Dhuri
MUMBAI – Prices of natural rubber rose in the key markets of Kerala today due to improved demand from domestic stockists. Likely concerns over supply due to heavy rains in Kerala also supported rubber prices, traders said.
* In Kerala, rubber tapping has been hindered in the key growing areas due to heavy rainfall. Tapping is likely to be delayed, thereby, supporting rubber prices, said E.J. Sunny, the owner of Edattukdi Rubber Traders based in Ernakulam.
* On the Tokyo Commodity Exchange, rubber contracts ended in the red due to profit booking after a recent rise in prices. However, expectations of a rise in global demand, especially from China, limited the downside, said analysts.
* To cater demand from the manufacturing sector, China is likely to import 1.26 mln tn of natural rubber in the fourth quarter, taking the total imports for the year to 4.92 mln tn, the Association of Natural Rubber Producing Countries said.
* Following are the highlights of today’s trade:
–The widely traded RSS-4 variety was quoted at 170-171 rupees per kg, up 1 rupee from the previous close.
–The March contract on TOCOM ended at 224.0 yen (about 147.61 rupees), down 2.5 yen from the previous close.
End
Edited by Maheswaran Parameswaran
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