Informist, Friday, May 14, 2021

By Rahul Dhuri

MUMBAI – Domestic prices of natural rubber were unavailable as markets in Kerala were shut due to the lockdown imposed by the state government. Kerala is India's largest rubber producer.

* The Kerala government has imposed a lockdown till Sunday due to rising COVID-19 cases in the state. Last Friday, the widely traded RSS-4 variety was quoted at 168-169 rupees per kg in Kochi and Kottayam.

* Futures contracts of natural rubber on the Tokyo Commodity Exchange ended higher today due to a recovery in global demand, analysts said.

* Likely gains in crude oil contracts on the New York Mercantile Exchange further supported the prices. Rubber prices take cues from crude oil as it is used to manufacture synthetic rubber. 

* Crude oil prices are likely to rise next week as optimism over recovery in demand in the second half of 2021 is expected to boost market sentiment, experts said. 

* This week, the International Energy Agency said that global demand for crude oil is expected to outpace supply growth by the end of the year. It also said that global inventories are almost back to their normal levels after building up significantly last year. 

* Following are the highlights of today's trade:

--The October contract on TOCOM ended at 245.2 yen (164.20 rupees), up by 3.2 yen from the previous close. End

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

Edited by Snigdha Kuttikat

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