Agri Business

Spot rubber closes unchanged

Kottayam | Updated on November 19, 2019 Published on November 19, 2019

Spot rubber closed unchanged on Tuesday. RSS 4 was quoted steady at ₹129.50 a kg by traders. The grade finished flat at ₹129 and ₹125 per kg respectively according to the Rubber Board and dealers. The transactions were in an extremely low key.

Global rubber prices will continue to remain subdued as Thailand seeks to boost its natural rubber exports, sources said. In March, the International Tripartite Rubber Council (ITRC), which comprises Thailand, Indonesia and Malaysia, agreed to reduce rubber exports by about 240,000 tonnes from late in May to late September to buoy local prices. The three Southeast Asian neighbours, which produce 70 percent of the world's natural rubber, ended up slashing exports by 441,648 tonnes during the period. But according to reports, Thai Minister of Commerce Jurin Laksanawisit told a conference of reporters and rubber growers recently that the nation will boost natural rubber exports mainly to increase growers' income.

December futures firmed up to ₹130.41 (129.51), January to ₹131.33 (131.01) and February to ₹131.47 (127.02) per kg on the Indian Commodity Exchange (ICEX).

RSS 3 (spot) improved to ₹107.63 (107.30) per kg at Bangkok. November futures firmed up to ₹106.89 (106.84), December to ₹109.33 (108.89) and January to ₹112.03 (111.58) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (₹/kg) : RSS-4: 129.50 (129.50); RSS-5: 126 (126); ISNR 20: 118.50 (118.50) and Latex (60% drc): 91 (91).

Published on November 19, 2019
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