KOCHI (Commodity Online): Natural rubber prices gained by Rs.2 to Rs.231/Kg on Thursday in domestic market, as per the Rubber Board data while futures market fell tracking overseas market.
"Natural rubber prices followed the upward trend in the global and domestic future markets," Indian Rubber Dealers Association President George Valy told.
The benchmark April contract at NMCE today closed at Rs.23596, a decline of Rs.46 over the previous close. Volume traded of the contract is 2887 tonnes.
At the Tokyo Commodity Exchange (TOCOM), rubber futures prices for April delivery fell by 443.10 yen per kg (Rs 238.76/kg), down by 3.90 yen (Rs 2.10/
kg) from the last trading price.
The prices of RSS-3 at the Bangkok market today rose to Rs.255.99 per Kg as against Rs 254.09 per Kg yesterday, Rubber Board data said.
According to experts, physical markets have received natural rubber supply from the farmers (producers), which could soften the prices in the coming days.
"Some parts of rubber producing areas in Kerala have witnessed unexpected summer rains, which is a signal that the tapping could continue. So farmers have brought in rubber supplies in the markets that could soften the prices," Valy pointed out.
(Source: http://www.commodityonline.com/news/India-rubber-futures-slumps-on-weak-global-cues-37765-3-1.html)
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