Informist, Thursday, Oct 14, 2021

By Rahul Dhuri

MUMBAI – Prices of natural rubber were largely unchanged in the key markets of Kerala today. However, the near-term outlook remains weak due to a likely rise in output, as peak tapping season has commenced in Kerala, the largest rubber grower in the country, traders said.

* India's natural rubber output is seen up at 79,000 tn in October compared with 67,000 tn a month ago. The removal of COVID-19 restrictions in Kerala has considerably eased farm management operations, labour availability, and supply network, the Association of Natural Rubber Producing Countries said.

* On the Tokyo Commodity Exchange, rubber contracts ended marginally up due to a weak yen against the US dollar and on expectations of rise in demand from major bulk buyers, said analysts.

* Slight gains in crude oil contracts on New York Mercantile Exchange also supported prices. Crude oil prices rose as the dollar's weakness against major currencies lifted demand for the commodity.

* Natural rubber takes cues from crude oil as the latter is used to make synthetic rubber.

 
* Following are the highlights of today's trade:
--The widely traded RSS-4 variety was quoted at 169-170 rupees per kg, unchanged from the previous close

--The March contract on TOCOM ended at 224.5 yen (about 149.03 rupees), up 0.5 yen from the previous close. 

End

Edited by Ashish Shirke

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