Informist, Thursday, Jun 30, 2022

By Rahul Dhuri 

MUMBAI – Prices of natural rubber rose in key markets of Kerala due to improved demand for the commodity from domestic stockists. Concerns over supply further supported prices of rubber, traders said.

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

* In global markets, futures contracts of natural rubber rose today on hope of a recovery in demand from one of the top consumers China, and tracking gains in crude oil prices on the New York Mercantile Exchange, analysts said.

* Demand for rubber from China is expected to increase as the country has begun to ease some COVID-19 restrictions. 

* Crude oil contracts on NYMEX were in the green today as tight supply remains a major concern. Natural rubber prices take cues from movement in crude oil as the latter is used to manufacture synthetic rubber.

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 for 178-179 rupees per kg, up 1 rupee from the previous day.

--The most active November contract on Osaka Exchange was up 1 yen at 256.4 yen (148.31 rupees) per kg. 

End

Edited by Deepshikha Bhardwaj

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