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India Rubber: Prices rise in Kerala on demand from tyre makers

Informist, Wednesday, Apr 7, 2021

 

By Rahul Dhuri

 

MUMBAI – Natural rubber prices rose in the key markets of Kerala on the back of improved demand from tyre makers, coupled with a supply crunch, industry participants said.

 

* Markets in Kerala were shut on Tuesday due to elections in the state.

 

* Supply is low as peak tapping season ended in February and the lean production phase will continue till July. However, rising cases of COVID-19 in the country capped the rise, said Mathew Thomas, owner of Ernakulam-based Kallarakkal Agencies.

 

* On the global front, benchmark rubber contracts on the Tokyo Commodity Exchange closed a tad higher due to short covering after a fall in the last two sessions, analysts said.

 

* However, an early fall in crude oil futures on the New York Mercantile Exchange and concerns over demand for rubber due to resurgence in coronavirus cases and the consequent lockdowns and travel restrictions limited the rise. 

 

* Rubber prices take cues from crude oil as it is used to manufacture synthetic rubber.

 

* Following are highlights of today's trade:

–In Kochi and Kottayam, the widely traded RSS-4 variety was sold at 172-173 rupees per kg, up 1-2 rupees from Monday.
–The most active September contract on TOCOM ended at 248.2 yen (about 168.08 rupees) per kg, up 0.3 yen. End

 

Edited by Subham Mitra

 

Cogencis news is now Informist. 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.

 

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