New Delhi, Mar 30 (PTI) Natural rubber prices today rose by Rs 2 to Rs 229 per kg in spot markets on the back of a rise in rates in international and domestic future markets.
Prices of natural rubber were ruling at Rs 227 per kg yesterday, the Rubber Board data showed.
"Natural rubber prices followed the upward trend in the global and domestic future markets," Indian Rubber Dealers Association President George Valy told PTI.
The Bangkok spot rubber prices also increased marginally, which strengthened the prices back home in the physical markets, Valy added.
The prices of natural rubber at the Bangkok market today rose marginally by Rs 0.86 to Rs 254.09 per kg as against Rs 253.23 per kg yesterday, Rubber Board data said.
Similarly, at the Tokyo Commodity Exchange (TOCOM),rubber futures prices for April delivery were ruling at 455 yen per kg (Rs 245.05/kg), a rise of 10.1 yen (Rs 5.43/kg) from the last trading price.
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://news.in.msn.com/business/article.aspx?cp-documentid=5092049)
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