Informist, Wednesday, Jun 29, 2022

By Rahul Dhuri 

MUMBAI – Prices of natural rubber in the key markets of Kerala remained largely unchanged today. However, the near-term outlook remains firm due to concerns over supply amid a likely rise in the domestic demand, experts said. 

* Lower availability of raw material is expected to support prices as rains in the key producing regions have affected the tapping activity, said Joy Alencherry, owner of Kerala-based J&J Trade Links.

* In the global market, futures contracts of natural rubber rose marginally today due to hopes of a recovery in demand from China, analysts said.

* Demand for rubber from China is expected to increase as the country began to ease some restrictions to curb the spread of COVID-19. China is one of the top consumers of natural rubber.

* However, due to Beijing's zero-COVID policy, some traders are still sceptical about recovery in the country's economic activities, which could keep rubber prices under pressure in the near-term.

Following are the highlights of today's trade:

--In Kerala, which accounts for nearly 70% of India's natural rubber output, the widely traded RSS-4 variety was sold at 179 rupees per kg, unchanged from the previous day.

--The most-active November contract on the Japanese bourse was up 0.6 yen at 258.3 yen (149.3 rupees) per kg. 

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Edited by Tanima Banerjee

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US$1 = XX.XX rupees

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

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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 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2022. All rights reserved.