Spot rubber finished high on Friday. The commodity regained strength on news that the government will increase the guaranteed price of rubber under the Rubber Production Incentive Scheme (RPIS) from ₹150.00 to ₹170.00 per kg for RSS 4 effective from April 1, 2021 as per the budget presented in the Kerala Assembly on Friday.
In spot, RSS 4 improved to ₹152.00 (150.50) per kg according to traders and the Rubber Board. The grade firmed up to ₹148.00 (146.50) per kg as quoted by the dealers.
In futures, the January delivery improved by 1.71 per cent to ₹155.75 (153.13) per kg on the Multi Commodity Exchange (MCX). The natural rubber contract for January delivery flared up by 585 Yuan (₹6,603.82) to close at 14,550 Yuan (₹164,262.06) a tonne on Shanghai Futures Exchange (ShFE).
RSS 3 (spot) firmed up to ₹162.53 (159.94) per kg at Bangkok. SMR 20 improved to ₹118.00 (114.83 ) while Latex weakened to ₹101.84 (102.09) per kg at Kualalumpur.
Spot rubber rates (Rs/kg) were: RSS4:152.00 (150.50); RSS5: 142.00(140.50); ISNR20: 125.00 (124.00) and Latex (60% drc): 110.00(109.00).