Agri Business

Domestic rubber ended in a weak note

Aravindan Kottayam | Updated on June 08, 2021

The most active June delivery was down 0.28 per cent from Monday’s settlement price

The domestic rubber futures ended in a weak note on Tuesday. The most active June delivery was down 0.28 per cent from Monday’s settlement price to close at ₹171.13 per kg with a volume of 41 lots on the Multi Commodity Exchange (MCX).

The natural rubber contract for the September delivery was down 200 Yuan (₹2278.68) from previous day’s settlement price to close at 13,045 Yuan (₹148,626.90) a tonne with a volume of 608,486 lots in day time trading on Shanghai Futures Exchange (ShFE).

Rising global inflation is likely to keep speculative traders away from the Shanghai Futures Exchange (SHFE) because they anticipate possible policy intervention by China to tame the inflation, said the Association of Natural Rubber Producing Countries. (ANRPC).

Speculative traders may be taking cautious steps in the short-term in anticipation of higher policy interest rates and borrowing cost. The policy announced by China to clampdown unhealthy speculation and abnormal increases in commodity prices can discourage speculative traders from commodities.

RSS 3 (spot) weakened to ₹162.63 (163.42 ) per kg at Bangkok. SMR 20 declined to ₹120.61 (122.84) and Latex to ₹106.50 (107.99 ) per kg at Kualalumpur.

The November futures was up 0.80 per cent to close at 240.0 Yen (₹159.82) per kg from previous day’s settlement price with a volume of 258 lots on the Osaka Exchange, Japan.

Spot rubber prices will be available only on Monday and Friday as Kerala continues to remain under the lockdown till 16 May to obviate the rapid surge of Covid-19 cases in the State.

Online training programme

Meanwhile, the Rubber Board is organising an online training programme in manuring of rubber on 16 June 2021 from 2.30 pm to 4.30 pm. The Medium of instruction will be Malayalam. For further details, contact on phone: 0481-2353127 or WhatsApp 7994650941.

Published on June 08, 2021

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