Agri Business

Neutral day for rubber market

Aravindan Kottayam | Updated on June 16, 2021

Latex lost further

Spot rubber continued to remain neutral on Wednesday. RSS4 closed unchanged at ₹170.00 per kg according to traders and the Rubber Board. The grade was quoted steady at ₹165.00 per kg by Dealers.

Meanwhile Latex lost further amid extremely low volumes and hence, the trend was partially mixed.

Based on the preliminary estimates up to May, the world production of natural rubber (NR) is anticipated to grow at 5.8 per cent, year-on-year, to 13.812 million tonnes in 2021, as per the Association of Natural Rubber Producing Countries (ANRPC). The world demand of NR was estimated earlier to grow at 6.7 to 13.679 million tonnes for the same reference period. This revised outlook has projected a relatively balanced global NR market for the prevailing year.

In futures, the June delivery was down 1.3 per cent from Tuesday’s settlement price to close at ₹169.00 per kg with a volume of 30 lots on the Multi Commodity Exchange (MCX).

RSS 3 (spot) declined to ₹156.67 (157.69) per kg at Bangkok. SMR 20 firmed up to ₹119.51 (117.65) and Latex to ₹101.15 (100.46) per kg at Kualalumpur.

The natural rubber contract for the September delivery was up 100 Yuan (₹1,145.74) from previous day’s settlement price to close at 12,750 Yuan (₹146,086.55) a tonne with a volume of 340,449 lots in day time trading on Shanghai Futures Exchange (ShFE).

RSS3 improved at its most active November futures by 0.26 per cent to close at 235.8 Yen (₹157.24) per kg with a volume of 90 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg) were: RSS4:170.00 (170.00); RSS5: 168.00 (168.00); ISNR20: 157.00 (157.00) and Latex (60% drc): 122.50 (123.00).

The Rubber Training Institute is organising an online training programme in ‘Intercropping in Rubber Plantations’ on 22 June 2021. The training will be from 2.30 pm to 4.30 pm. Medium of instruction is Malayalam. For further details, contact 0481-2353127 or WhatsApp 7994650941.

Published on June 16, 2021

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

This article is closed for comments.
Please Email the Editor