Commodities

Supply disruptions in Kerala lift rubber

Our Correspondent Kottayam | Updated on October 27, 2020

Spot rubber resumed the upward journey on Tuesday. RSS-4 improved to ₹156 from ₹152.50 and ₹152 a kg, respectively, according to traders and the Rubber Board. The grade firmed up to ₹152 (148) as quoted by dealers.

The market continued to explore further highs mainly on covering purchases at lower levels.

The production anticipated in 2020 has been scaled down by 42,000 tonnes to 668,000 tonnes in India by the Association of Natural Rubber Producing Countries (ANRPC). The revised outlook represents a 4.8 per cent decline from the previous year as against a 1.1 per cent anticipated increase reported a month ago.

The country’s NR production sector is impacted by a burst in the number daily new cases of Covid-19 infections in Kerala since the beginning of September and the abnormal leaf fall caused by the outbreak of Phytophthora leaf disease during July and August. It is also reported that the incidence of abnormal leaf fall during this year is less severe compared to the previous year.

RSS-3 (spot) flared up further to ₹188.44 (178.12) per kg at Bangkok. SMR 20 weakened to ₹125.16 (125.74) while Latex 60% firmed up to ₹125.87 (123.31) per kg at Kuala Lumpur.

Natural rubber futures closed higher in day time trading on Shanghai Futures Exchange (ShFE). The near month November delivery was up by 290 Yuan (₹3,186.72) to close at 14,110 Yuan (₹155,050.30) a tonne.

Spot rubber rates (₹/kg): RSS-4:156 (152.50); RSS-5: 152 (148); ISNR 20: 126 (124) and Latex (60% drc): 108 (102.50).

Published on October 27, 2020

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