Agri Business

Rubber skids on lockdown, fall in demand

Our Correspondent Kottayam | Updated on March 30, 2020 Published on March 30, 2020

Spot rubber prices were not available as local trading houses remained closed following the nation-wide lockdown.

According to the Association of Natural Rubber Producing Countries (ANRPC), the movement control measures initiated by some of the major rubber producing countries has disrupted the harvesting, processing and transportation of the produce. A third factor that affected the production is the abnormal fall in the demand. The world consumption of NR fell by 25.6 per cent in February and 19.8 per cent in March from the corresponding months in the previous year, as per preliminary estimates of the major consuming countries.

The domestic rubber futures declined further on Monday. The April contracts surrendered to ₹117.01 (118.65) and May to ₹117.34 (119.82) per kg on the Indian Commodity Exchange (ICEX). The near-month April contracts were down by 1.38 per cent with a volume of 387 lots and total trade value of ₹451.11 lakh.

RSS-3 (spot) dropped to ₹102.56 (105.63) a kg at Bangkok. In futures, the April contracts weakened to ₹94.32 (96.51), May to ₹95.09 (97.55) and June to ₹96 (98.51) on the Tokyo Commodity Exchange.

Published on March 30, 2020

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