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Spot rubber was in a mixed mood on Monday. RSS 4 continued to remain unchanged at ₹126.50 a kg according to traders and the Rubber Board. The grade was quoted steady at ₹122.50 by dealers. Latex declined further amidst scattered transactions but RSS 5 and ISNR 20 improved further on enquiries from the non tyre sector.
Sheet rubber firmed up to ₹126.50 (126) on last Friday according to the Rubber Board. It closed steady at ₹126.50 as reported by the traders. The weekend session witnessed comparatively low volumes as the trendsetting domestic and international futures markets and Bangkok spot markets were on weekend holidays.
November futures improved to ₹128.23 (128.10), December to ₹130.27 (129.09) and January to ₹131.62 (130.28) on the Indian Commodity Exchange (ICEX). One of the major reasons for the spread of 'Pestalotiopsis' which affected the rubber plantations in Indonesia, Malaysia and Thailand is the extremely low rubber prices during the past five to six years. A sharp drop in income instigated the rubber farmers to abandon and ignore the recommended fertilizing system to maintain their trees healthy.
RSS 3 (spot) slid to ₹106.17 (106.42)at Bangkok.November futures firmed up to ₹106.89 (103.52), December to ₹106.76 (106.06) and January to ₹109.58 (108.47)on the Tokyo Commodity Exchange (TOCOM). Spot rubber rates (₹/kg): RSS-4: 126.50 (126.50); RSS-5: 124.50 (124); ISNR 20: 116 (115) and Latex (60% drc): 91.50 (92.50).
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