A worker uses plastic bowls to collect rubber latex at a rubber plantation in Deli Serdang, Indonesia's North Sumatra province May 21, 2010. The International Rubber Consortium (IRCo), which groups the top three producing nations, plans to increase the intervention price in line with rebounding rubber prices, a senior trade ministry official said on Friday. REUTERS/Tarmizy Harva (INDONESIA - Tags: BUSINESS) | Photo Credit: TARMIZY HARVA
Spot rubber finished high on Friday. The commodity regained strength on news that the government will increase the guaranteed price of rubber under the Rubber Production Incentive Scheme (RPIS) from ₹150.00 to ₹170.00 per kg for RSS 4 effective from April 1, 2021 as per the budget presented in the Kerala Assembly on Friday.
In spot, RSS 4 improved to ₹152.00 (150.50) per kg according to traders and the Rubber Board. The grade firmed up to ₹148.00 (146.50) per kg as quoted by the dealers.
In futures, the January delivery improved by 1.71 per cent to ₹155.75 (153.13) per kg on the Multi Commodity Exchange (MCX). The natural rubber contract for January delivery flared up by 585 Yuan (₹6,603.82) to close at 14,550 Yuan (₹164,262.06) a tonne on Shanghai Futures Exchange (ShFE).
RSS 3 (spot) firmed up to ₹162.53 (159.94) per kg at Bangkok. SMR 20 improved to ₹118.00 (114.83 ) while Latex weakened to ₹101.84 (102.09) per kg at Kualalumpur.
Spot rubber rates (Rs/kg) were: RSS4:152.00 (150.50); RSS5: 142.00(140.50); ISNR20: 125.00 (124.00) and Latex (60% drc): 110.00(109.00).
Published on January 15, 2021
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