Commodities

Lower arrivals boost rubber

Our Correspondent Kottayam | Updated on October 23, 2020 Published on October 23, 2020

Spot rubber hit the second predicted target on Friday. RSS-4 flared up to ₹150 (146) per kg, according to traders. The grade improved to ₹148 (146) as quoted by the Rubber Board. The overall volumes were low as the inflow of the raw material continued to remain meagre.

"The next target for sheet rubber is ₹160 and we expect it to reach that level next week", a grower told Business Line. " Though the commodity is passing through the peak production season, over night rains are disrupting the tapping process in almost all major plantation areas. So we could not expect an improvement in arrivals in the immediate future", he added.

Natural rubber futures finished firm in day time trading on Shanghai Futures Exchange (ShFE). The most active January 2021 delivery was up by ₹331.23 to close at ₹163,847.88 a tonne. SMR 20 improved to ₹120.83 (119.24) and Latex 60% to ₹120.65 (115.64) per kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS-4:150 (146); RSS-5: 144 (142); ISNR 20: 121 (120) and Latex (60% drc): 100 (97).

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Published on October 23, 2020
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