Commodities

Spot rubber ends flat

Our Correspondent Kottayam | Updated on December 06, 2019 Published on December 06, 2019

Spot rubber finished flat on Friday. RSS 4 closed unchanged at ₹130.50 per kg, according to traders and the Rubber Board. The grade was quoted steady at ₹126.50 per kg by dealers. The trend continued to remain mixed as latex improved further on enquiries from the general rubber goods sector.December futures firmed up to ₹133.74 (133.62) and January to ₹135.29 (135.27) whileFebruary futures slid to ₹137.60 (137.71) per kg on the Indian Commodity Exchange (ICEX).

The International Tripartite Rubber Council (ITRC), comprising world's top rubber producers - Thailand, Indonesia and Malaysia (TIM) is likely to implement another round of Agreed Export Tonnage Scheme (AETS) to ensure price steadiness, reports said. At its recent 33rd ITRC meeting held in Jakarta, the three producing countries decided on the move to address any unfavourable market conditions in the future, with the projected reduction of natural rubber (NR) production by 800,000 tonnes this year due to unexpected factors.This includes the outbreak of Pestalotiopsis, erratic weather conditions and sluggish tapping activities due to prolonged low prices.

RSS 3 (spot) flared up to ₹113.99 (110.64) per kg at Bangkok. December futures improved to ₹113.94 (113.73) while the January futures weakened to ₹114.20 (114.91) and February to ₹116.64 (116.67) per kg on the Tokyo Commodity Exchange (TOCOM).

Spot rubber rates (₹/kg) : RSS-4: 130.50 (130.50); RSS-5: 127.50 (127.50); ISNR 20: 119.50 (119.50) and Latex (60% drc): 91.50 (91)

Published on December 06, 2019
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