Spot rubber continue to rule weak bl-premium-article-image

D.I. Aravindan Updated - June 28, 2021 at 09:55 PM.

Low volumes lead to further loss

Kozhikode, Kerala, 16/02/2019: The State government's latest budget declaration with some newer schemes and packages for rubber farmers has kindled fresh hopes among thousands of rural farmers in Kerala. A view from Kozhikode's Chakkittappara panchayat where an elderly farmer keeps the rubber sheets outside his house to dry it in the sunlight in Kozhikode on Feburary 16, 2019. PHOTO: K. Ragesh

Spot rubber continued to rule weak on Monday. There was no visible improvement in demand and the commodity lost further amidst extremely low volumes.

Meanwhile, a leading tyre maker was buyer on RSS4 at ₹167.50 a kg but failed to procure the raw material at the desired level as most traders were unwilling to unwind their stocks below the prevailing market price. “But any sharp improvement in domestic supplies will put further pressure on prices and we expect this to happen during the days ahead”, an observer told BusinessLine .

RSS4 declined to ₹168.00 (168.50) per kg according to traders. The grade dropped to ₹168.50 (169.00) per kg as per the Rubber Board. The trend was partially mixed as Latex bounced back since a major north-Indian company bough it at the quoted levels during early trading hours.

In futures, the most active July delivery lost 1.22 per cent from Friday’s settlement price to close at ₹166.97 per kg with a volume of 25 lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the July delivery was up 30 Yuan (₹344.81) from previous day’s settlement price to close at 12,970 Yuan (₹149,051.83) a tonne with a volume of 54 lots in day time trading on Shanghai Futures Exchange (ShFE).

The July futures shed 0.46 per cent to close at 236.2 Yen (₹158.24) per kg with a volume of 8 lots on the Osaka Exchange, Japan.

RSS 3 (spot) slid to ₹152.05 (152.44) per kg at Bangkok. SMR 20 declined to ₹123.40 (124.31) and Latex to ₹97.81 (99.45) per kg at Kualalumpur.

Spot rubber rates (₹/kg) were: RSS4:168.00 (168.50); RSS5: 165.50(166.50); ISNR20: 156.00 (156.00) and Latex (60 per cent drc): 122.50 (119.50).

Growers may contact Rubber Board Call Centre to get advice on diseases that affect rubber during the winter season and its control measures. Dr. Shaji Philip, Principal Scientist, Rubber Research Institute of India will answer the questions in this regard on Tuesday, 29 June 2021 from 10 am to 1 pm. The Call Centre number is 0481-2576622.

Published on June 28, 2021 16:25