Tokyo rubber futures rose for a second consecutive day to a new record on Thursday on a strong dollar and rising oil prices.
Prices for RSS-4 rubber in Kerala, which is the rubber hub of India on Thursday, went even up to Rs.21, 400 beating the previous best of Rs 21,200 of the very previous day.
The rising prices of rubber in India are mere reflections of the soaring prices in global market, analysts say.
Indian rubber futures at NMCE, the benchmark January contract is now trading at Rs.21365 per 100 Kg, up by 0.25 per cent. The contract traded in the range of Rs.21301-Rs.21550 in the early sessions. Open interest of the contract is 1678 so far and volume traded as of now is 324 tonnes.
(Source: http://www.commodityonline.com/news/Rubber-price-in-India-hits-another-record-35402-3-1.html)
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