Agri Business

Rubber regains strength on covering purchases

Our Correspondent Kottayam | Updated on April 26, 2021

Another sharp fall in domestic futures may exert pressure on prices

Spot rubber ended in green on Monday. The market opened weak reacting closely to the surge in Covid -19 cases but regained strength later on covering purchases following a moderate recovery in Bangkok spot prices.

Another sharp fall in domestic futures during the fag end of the session is likely to dampen the sentiments putting further pressure on prices when the commodity resumes trading on Tuesday, an observer said.

RSS-4 improved to ₹163.50 (163) per kg, according to traders and the Rubber Board. The grade firmed up to ₹158.50 (158) as per dealers. The trend was mixed as ISNR20 and latex closed unchanged amid thin trades.

In futures, the front month April delivery lost 3.72 per cent from Friday’s settlement price to close at ₹155.50 per kg with a volume of 14 lots on the Multi Commodity Exchange (MCX).

RSS 3 (spot) improved to ₹164.37 (162.45) per kg at Bangkok. SMR 20 firmed up to ₹125.18 (124.89) and Latex to ₹113.12 (112.38) per kg at Kuala Lumpur.

The most active natural rubber contract for September delivery was down 225 Yuan (₹2592.88) from previous day’s settlement price to close at 13,810 Yuan (₹159,145.32) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg): RSS 4:163.50 (163); RSS 5: 160 (158); ISNR20: 145 (145) and Latex (60% drc): 119.50 (119.50).

Pre-planting operations

Rubber growers may contact Rubber Board Call Centre to collect information about the pre planting operations like contour lining, pitting, terracing, etc and planting of rubber. Phebe Joseph, Scientist, Rubber Research Institute of India, will answer the questions on April 28 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 26, 2021

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