Agri Business

Covid second wave saps rubber

Our Correspondent Kottayam | Updated on April 19, 2021

Sheet rubber slips to ₹164/kg

Spot rubber fell in tandem with the heavy losses in domestic futures on Monday. The second wave of Covid-19 is getting worse, making both stock and commodity markets more risky.

The re-imposition of lockdowns in highly infected areas and the sharp decline in investors’ wealth have affected trading in commodities very badly.

RSS-4 declined to ₹164 (166.50) per kg, according to traders and the Rubber Board. The grade finished flat at ₹159 (161.50), according to dealers. The volumes were low.

In futures, the front month April delivery shed 4.78 per cent from Friday’s settlement price to close at ₹157.25 per kg with a volume of 82 lots on the Multi Commodity Exchange (MCX).

RSS-3 (spot) slid to ₹159.27 (159.77) per kg at Bangkok. SMR 20 surrendered to ₹120.64 (123.17) and Latex to ₹111.64 (114.55) at Kuala Lumpur.

The most active natural rubber contract for September delivery was down 80 Yuan (₹920.61) from previous day’s settlement price to close at 13,655 Yuan (₹157,122.48) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg): RSS 4:164 (166.50); RSS 5: 159 (162.50); ISNR20: 147 (148) and Latex (60% drc): 122.50 (124).

Call centre help

Rubber growers may contact Rubber Board Call Centre to seek information about the various aspects of rubber tapping — marking of trees, Low Frequency Tapping, Controlled Upward Tapping, stimulation of trees, etc. S Nimil, Rubber Tapping Demonstrator, Rubber Board, will answer the questions on April 21 from 10 am to 1 pm.

The Call Centre number is 0481-2576622. According to a press release issued by the Board, technical advice regarding cultivation, production, processing, etc can be regularly sought from the Call Centre functioning at its Head Office. The service is available from 9.30 am to 5.30 pm on all working days.

Published on April 19, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.