Commodities

Bullish global cues lift rubber

Our Correspondent Kottayam | Updated on February 16, 2021

Latex scales ₹100/kg

Spot rubber ended in green on Tuesday. As per reports, the current uptrend in rubber is mainly driven by the rally in domestic and global stock and commodity markets in response to the progress in the vaccination drives and renewed optimism on global economy.

RSS-4 improved to ₹156 (155) per kg, according to traders and the Rubber Board. The grade was quoted firm at ₹152 (151) by dealers.

In futures, the natural rubber contract for February delivery improved from Monday’s settlement price to ₹159.01 (158.96) per kg on the Multi Commodity Exchange (MCX).

Global rubber futures have entered a strong bullish phase as indicated by the technical charts and oscillators, according to Jom Jacob, Former Senior Economist at Association of Natural Rubber Producing Countries (ANRPC).

RSS 3 (spot) firmed up to ₹165.03 (162.57) per kg at Bangkok. SMR 20 slid to ₹119.25 (119.39), while Latex improved to ₹104.18 (103.08) per kg at Kuala Lumpur. The Shanghai Futures Exchange (ShFE) continued to remain closed on account of Chinese New Year.

Spot rubber rates (₹/kg): RSS 4:156 (155); RSS 5: 151 (150.50); ISNR20: 142.50 (142) and Latex (60% drc): 114.50 (113.50).

Rubber planting materials

Meanwhile, root trainer planting materials are ready for distribution from the Rubber Board nurseries. Root trainer plants of RRII 105, RRII 430, RRII 414, RRII 417 and RRII 422 are available at the Rubber Board’s Central Nursery at Mukkada and regional nurseries at Kanhikulam, Manjeri, Ulickal, Kadackamon and Alakode.

Applications in the prescribed format can be submitted at the nearest nursery or Regional Office of the Board. Application forms are available at all offices of the Board. It can be downloaded from the website www.rubberboard.gov. in also. For further details, contact Rubber Board Call Centre: 0481-2576622 or Central Nursery: 9496802284.

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Published on February 16, 2021
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