Agri Business

Spot rubber market suffers from raw material shortage

Our Correspondent Kottayam | Updated on August 30, 2021

Major buyers concerned over delayed imports and declining domestic supplies

Spot rubber resumed the uptrend on Monday. The market continued to suffer from an acute shortage of the raw material as widespread rains begin to disrupt tapping once again after a short break. Delayed imports and declining domestic supplies kept major buyers on their toes and the commodity regained strength on fresh buying and short covering. But the volumes were extremely low.

RSS4 downed the shutters at ₹181.00 (180.50) after hitting an intraday high of ₹181.50 a kg as per traders. The grade improved to ₹180.50 (180.00) and ₹175.50 (175.00) per kg respectively according to the Rubber Board and Dealers.

In futures, the front month August delivery was up 0.14 percent from Friday's settlement price to close at ₹182.50 per kg with a volume of two lots on the Multi Commodity Exchange (MCX).

RSS3 (spot) declined to ₹138.21 (139.97) per kg at Bangkok. SMR20 weakened to ₹121.47 (122.19) and Latex to ₹92.97 (93.33) per kg at Kuala Lumpur.

The natural rubber contract for the September delivery was down 0.39 percent from previous day's settlement price to close at 12,900 yuan (₹147.583.00) a tonne with a volume of 10,185 lots in day time trading on Shanghai Futures Exchange (ShFE).

The near month September delivery lost 0.82 percent from last day’s settlement price to close at 193.4 yen (₹130.72) per kg with a volume of 23 lots on the Osaka Exchange, Japan.

Spot rubber rates (Rs/kg) were: RSS4:181.00 (180.50); RSS5: 178.50 (178.00); ISNR20: 168.00 (168.00) and Latex (60% drc): 129.00 (129.00).

Tapping and marking

Rubber growers can contact Rubber Board Call Centre to know about the opening of rubber trees for tapping, weekly tapping etc. Dr R Rajagopal, Senior Scientist, Rubber Research Institute of India will answer the questions on this subject on September 1, 2021 from 10 am to 1 pm. The call centre number is 0481-2576622.

According to a press release issued by the board, information about the services of the board and also technical advice regarding cultivation, production, processing etc. of rubber 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 August 30, 2021

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