Spot rubber closed unchanged on Monday. RSS-4 was quoted steady at ₹180 per kg by traders and the Rubber Board. The grade finished flat at ₹175, according to dealers. The trend was partially mixed as Latex improved a tad on fresh buying amidst low supplies.

An acute shortage of the raw material continued to cast its shadow over the market, while intensified rains forestalled growers once again from increasing output during the ongoing peak production season.

“We are not able to tap even twice in a week,” a tapper said. “If tapping is not done at regular intervals, the yield may drop up to 50 per cent”. In fact, Kerala received 117 per cent more rainfall so far than normal in October as reported by the weather department.

The most active November delivery was up 2.10 per cent from Friday’s settlement price to close at ₹183.90 per kg with a volume of 35 lots on the Multi Commodity Exchange (MCX).

RSS3 (spot) inched up to ₹142.77 (142.12) per kg at Bangkok. SMR20 improved to ₹131.77 (127.99) and Latex to ₹100.13 (99.37) per kg at Kualalumpur.

The natural rubber contract for the January 2022 delivery was up 1.82 percent from previous days settlement price to close at 15.40 Yuan (Rs.169.64) per kg with a volume of 233,739 lots in daytime trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg) were: RSS-4:180 (180), RSS-5: 178 (178), ISNR20: 167 (167) and Latex (60% drc): 131 (130.50).

Rubber production incentive scheme

Rubber growers may contact Rubber Board Call Centre to seek information about the Rubber Production Incentive Scheme (RPIS) of the Kerala government, being implemented through the Board. PR Sivaraman, Assistant Development Officer, Rubber Board will answer the queries on the subject on Wednesday ( November 17) from 10.00 am to 1.00 pm. The call centre number is 0481 - 2576622.

Related Topics
comment COMMENT NOW