Commodities

Covid fears, absence of bulk buying sap spot rubber

Our Correspondent Kottayam | Updated on January 22, 2021 Published on January 22, 2021

Rubber Board to hold training course on January 29

Spot rubber ended in red on Friday. Declines in the domestic and overseas futures markets and the absence of bulk buyers kept sheet rubber under pressure during the day.

RSS 4 dropped to ₹152.50 (153) per kg, according to traders and the Rubber Board. The grade slid to ₹148.50 (149), according to dealers. The trend continued to remain mixed as ISNR20 finished firm on enquiries from the non-tyre sector while RSS5 and Latex closed unchanged amidst scattered transactions.

International institutions have predicted that the global economic recovery will be uneven in 2021, as each country faces different challenges in containing the virus. Covid-19 has afflicted more than 95 million people and killed more than 2 million. At least 60 to 70 per cent of the world's population will have to be inoculated to break the chain of transmission, as estimated by the World Health Organisation.

The natural rubber contract for January delivery surrendered to ₹150.91 (153.08) per kg on the Multi Commodity Exchange (MCX).

The most active natural rubber contract for May 2021 delivery was down by 405 Yuan (₹4,561.12) from Thursday's settlement price to close at 14,380 Yuan (₹161,962.30) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

RSS 3 (spot) declined to ₹157.55 (160.28) per kg at Bangkok. SMR 20 weakened to ₹115.06 (117.53 ) and Latex to ₹100.02 (101.04) per kg at Kuala Lumpur.

Spot rubber rates (₹/kg): RSS 4:152.50 (153); RSS 5: 144 (144); ISNR20: 128 (127) and Latex (60% drc): 112 (112).

Training course

The Rubber Board is organising a one-day training programme in planting and upkeep of rubber at Rubber Training Institute, Kottayam on January 29.

The course content includes methods of planting, upkeep and maintenance, intercropping, weeding, etc. The fee for training is ₹500 (18% GST+ 1% flood cess extra) and an additional ₹300 will be charged per day per participant for boarding and lodging.

Members of Rubber Producers Societies will get 25% concession in fee on production of membership certificate.

According to a press release issued by the Board, the training will be conducted in strict adherence to Covid-19 protocol. For further details, contact phone: 0481-2353127 or WhatsApp: 7994650941. Email: training@rubberboard.org.in

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Published on January 22, 2021
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