Higher natural rubber inventories in Japan is likely to put pressure over the price of the commodity in Tokyo commodity and Derivative Exchange (TOCOM) even though production concerns persist in Thailand.
According to reports, the natural rubber inventories in Japan, one of the major consumer of natural rubber, reached to the highest in 5 years which is likely to affect the price of the commodity.
On Monday, In TOCOM, the rubber futures for October delivery traded as low as 299.9 yens as the elections in Greece and France revived investor concerns that Europe's debt problems could hurt demand.
But the prices are likely to move up as the production concerns in Thailand, one of the largest producer of natural rubber, still persists even though the Wintering is about to end.
In TOCOM, the rubber futures for October delivery traded at 304.7 yen per Kg on Tuesday.
And in India's National Multi Commodity and Derivatives Exchange (NMCE), the commodity traded at Rs 19164 per ton on 8th May at 12:15 IST.
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