New Delhi, Apr 4 Natural rubber prices on Monday jumped by Rs 7 to Rs 240 per kg in the domestic spot markets, largely on the back of strong global cues.

Natural rubber prices were ruling at Rs 233 per kg on April 2 in the domestic physical markets, Rubber Board data said.

“Natural rubber prices have been rising in the international physical and futures markets due to news of floods and mudslides in Thailand, which will affect the rubber supply in the markets,” said Mr George Valy, President, Indian Rubber Dealers Federation.

According to experts, natural rubber exports from Thailand, the world’s biggest rubber exporter, may come down because mudslides have devastated rubber plantation areas and a forecast of further heavy rain.

Mr Valy said that Tokyo Commodity Exchange (TOCOM) and the physical markets at Bangkok today have been trading on the positive side and this has been picked up by the markets back home.

Natural rubber at the Bangkok market today rose by Rs 2.37 to Rs 258.08 per kg as against Rs 255.71 per kg on April 1, according to the Rubber Board data.

Similarly, TOCOM, rubber futures prices for April delivery were ruling at 473 yen per kg (Rs 249.88/kg), up 13 yen (Rs 6.86/kg) and May delivery prices rose by 10.4 yen (Rs 5.49/kg) to 470 yen per kg (Rs 248.24/kg) from their last trading price.

Another reason for the price rise is that farmers are not bringing all their produce to the markets in anticipation that the prices would rise further, Mr Valy said.

“Kerala has been witnessing summer rains that point towards the fact that tapping would continues and more rubber would be produced but the farmers are not bringing all their produce to the markets,” he added.

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