Domestic Future Markets, India Natural Rubber Prices Fall per Kg

Natural Rubber prices today fell by Rs seven to Rs 231 per kg in the domestic market due to fall in the prices in the International and domestic future markets.

The prices of natural rubber yesterday at the Kottayam market were ruling at Rs 238 per kg.

"Fall in prices of rubber in the international market, Tokyo Commodity exchange (TOCOM) and in the domestic market has affected the prices in the physical markets here," Indian Rubber Dealers Association President George Valy told PTI.

"Internationally there is lot of voltality in the prices of rubber," Valy added.

Prices of natural rubber in the Bangkok market closed at Rs 289.31 per kg as against Rs 292.05 per kg yesterday.

"The prices in the domestic future markets have been affected due to a fall in the prices in TOCOM," National Multi Commodity Exchange Chief Executive Office Anil Mishra told PTI.

"The prices of rubber at Shanghai, the largest consumer, have also fallen as the demand from China is declining and this has again affected the prices," Mishra added.

A two-day Rubber Convention began here today aiming to bring together the government, private investors, rubber growers and traders in a common platform in an initiative by the Confederation of Indian Industries (CII).

CII officials said that the convention included conclave and exhibition for identifying business opportunities through exchange of ideas, knowledge and experience as well as to apprise the rubber growers on intermediary and affordable technologies for rubber processing.

At the conclave, Tripura Industrial Development Corporation (TIDC) Pabitra Kar addressed the key issues in enabling investors to consider Tripura as an important investment destination and the need for cost-effective processing technologies.

''The exhibition showcased the technology required in cultivation, harvest and processing stages and how it would help the entrepreneurs to know about intermediate technology available for rubber processing and enable them to move up the value chain, create business prospect and adopt market-driven practices,'' Mr Kar said.

As many as 25 investment groups and top officials of CII and All India Rubber Industries Association (AIRIA) have attended the conclave while hundreds of rubber growers from different parts of the state participated in the programme.

The CII officials pointed out, being the second largest quality latex producer state in the country, Tripura required to expose rubber processing technologies and machineries.