Commodities

Spot rubber continues to rule firm

Aravindan Kottayam | Updated on December 10, 2019 Published on December 10, 2019

Spot rubber continued to rule firm on Tuesday. RSS 4 improved to Rs 132.00 (131.00) per kg according to traders and the Rubber Board. The grade closed better at Rs 128.00 (127.00) per kg as reported by the Dealers. The absence of quantity sellers and the fresh enquiries from the tyre sector kept the commodity in green during the day. The trend was mixed as latex closed unchanged and ISNR 20 lost marginally on buyer resistance.

In futures, the December contracts improved to Rs 135.02 (134.99), January to Rs 136.65 (135.67) and February to Rs 138.87 (137.49) per kg on the Indian Commodity Exchange (ICEX).

According to sources, the Pestalotiopsis disease has affected 380,000 ha in Indonesia, 52,000 ha in Thailand and 5,000 ha in Malaysia to date.

The severity of Pestalotiopsis disease outbreak is estimated to scale down between 70 per cent and 90 per cent of productivity in the affected areas of the worst cases and about between 30 per cent and 50 per cent for moderate affected areas.

RSS 3 weakened at its December futures to Rs 115.40 (115.69) and January to Rs 115.01 (115.56) while its February futures firmed up to Rs 117.69 (117.32) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (Rs/kg) were:

RSS-4: 132.00 (131.00)

RSS-5: 128.00 (127.50)

ISNR 20: 118.50 (119.50) and Latex (60% drc): 91.50 (91.50)

Published on December 10, 2019
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