Informist, Wednesday, Nov 3, 2021

By Rahul Dhuri

MUMBAI - Natural rubber prices in the key markets of Kerala extended gains from Tuesday as the near-term sentiment remained firm due to supply concerns amid improved demand from domestic bulk buyers, traders said.

* Torrential rains in Kerala have devastated crops spread over 18,764.72 ha, leading to a loss of 2.81 bln rupees to farmers. Nearly 74,780 farmers in the state have been affected by landslides and flash floods, said Deepthi Varadan, a senior official at the state's Department of Agriculture Development and Farmers' Welfare.

* On the Tokyo Commodity Exchange, rubber prices were unavailable as the exchange was shut today on account of Culture Day. Trade is likely to resume from Thursday.

* The outlook for rubber remains firm in the near term due to expectations of a rise in demand from bulk buyers,

* The Association of Natural Rubber Producing Countries has revised the outlook for world natural rubber as member governments updated their figures for 2021. World production is likely to fall 1.4% to 13.787 mln tn, while demand is expected to rise 8.9% to 14.116 mln tn in 2021.

* Following are the highlights of today's trade:
--The widely traded RSS-4 variety was quoted at 176-178 rupees per kg, up 1 rupee from Tuesday. End

Edited by Snigdha Kuttikat

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