Agri Business

Covid-19 impact: Rubber prices under pressure

Our Correspondent Kottayam | Updated on April 13, 2021

The commodity skids into a short-term corrective phase

 

Spot rubber continued to remain under pressure on Tuesday. RSS-4 weakened to ₹168 (168.50) per kg, according to traders and the Rubber Board. The grade slid to ₹163 (163.50), according to dealers.

The break below the minimum support level of ₹170 is a sign of weakness and the commodity has fallen into a short-term corrective phase mainly due to the impact of Covid-19 on market sentiments.

In futures, the front month April delivery was down 0.9 per cent from Monday’s settlement price to close at ₹163.61 per kg with a volume of 21 lots on the Multi Commodity Exchange (MCX).

The most active natural rubber contract for September delivery was down 130 Yuan (₹1,494.65) from previous day’s settlement price to close at 13,530 Yuan (₹155,558.99) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

SMR 20 declined to ₹118.94 (121.69) and Latex to ₹115.53 (116.62) a kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS 4:168 (168.50); RSS 5: 163 (165.50); ISNR20: 149 (149) and Latex (60% drc): 126 (127).

Apiary training

Meanwhile, the Rubber Board is holding a one-day training programme in beekeeping at the Rubber Training Institute, Kottayam on April 20.

The course is intended for farmers, rubber growers and members of Self Help Groups.

The training fee is ₹500. Members of Rubber Producers’ Societies will get 25 per cent concession in fee on production of membership certificate.

Published on April 13, 2021

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