Agri Business

Spot rubber tops ₹170 per kg

Our Correspondent Kottayam | Updated on August 04, 2021

Strong demand and supply constraints due to rain have lifted the commodity

Spot rubber reached further highs on Tuesday. RSS-4 concluded at ₹173 (172) per kg after hitting an intra-day high of ₹173.50 a kg, according to traders. The grade improved to ₹172 (171.50) and ₹167 (166.50) per kg, respectively, as reported by the Rubber Board and dealers.

A leading tyre-maker bought sheet rubber at the quoted levels during early trading hours, sources said.

According to reports, the RSS market in Kottayam is ruling almost 25-30 per cent above the Bangkok prices mainly due to a couple of favourable factors. The lifting of lockdown restrictions in most States and the restoration of manufacturing activities and businesses have initiated a rebound in domestic demand. On the other hand, the domestic supply is constrained by the annual South-West monsoon in the traditional rubber growing regions of Kerala which represents 75 per cent of the country’s total rubber output.

The most active August delivery was up 0.42 per cent from Monday’s settlement price to close at ₹174.99 per kg with a volume of 33 lots on the Multi Commodity Exchange (MCX).

RSS-3 (spot) dropped to ₹135.67 (136.14) per kg at Bangkok. SMR 20 firmed up to ₹125.71 (125.71) and Latex to ₹90.44 (90.19) per kg at Kuala Lumpur.

The natural rubber contract for the September delivery was down 0.41 per cent from previous day’s settlement price to close at 13,325 Yuan (₹153,084.34) a tonne with a volume of 289,441 lots in day time trading on Shanghai Futures Exchange (ShFE).

The forward January 2022 delivery lost 0.23 per cent from last day’s settlement price to close at ¥215.5 (₹146.57) per kg with a volume of 106 lots on the Osaka Exchange, Japan.

Spot rubber rates (₹/kg) RSS-4:173 (172); RSS-5: 170 (169.50); ISNR20: 158.50 (158) and Latex (60% drc): 128 (127.50).

Growers may contact Rubber Board Call Centre to know about the circular leaf spot disease of rubber and its control measures. Shaji Philip, Principal Scientist, Rubber Research Institute of India, will answer the questions in this regard on August 5 (Thursday) from 10 am to 1 pm. The call centre number is 0481-2576622.

Published on August 03, 2021

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