Spot rubber continued to explore further highs on Wednesday. RSS 4 edged up to ₹164.50 from ₹164 and ₹163.50 per kg respectively, according to traders and the Rubber Board. The grade firmed up to ₹159.50 (158.50) as per dealers.
According to The Association of Natural Rubber Producing Countries (ANRPC), the outlook of world production of natural rubber (NR) is likely to fall 12.4 per cent, year-on-year, to 897,000 tonnes in February 2021. The world consumption of natural rubber is estimated to recover at 47.5 per cent, year-on-year, to 1.103 million tonnes during the same month.
This favourable market fundamental has supported the upward trend observed in average monthly prices across key physical markets during the reference month amid the seasonal wintering in most NR producing countries.
In futures, the March delivery improved from Tuesday's settlement price to ₹168.12 (166.50) per kg on the Multi Commodity Exchange (MCX).RSS 3 (spot) flared up to ₹174.01 (171.66) per kg at Bangkok. SMR 20 improved to ₹130.89 (128.31) and Latex to ₹123.33 (121.24) a kg at Kuala Lumpur.
The most active natural rubber contract for May delivery was up 165 Yuan (₹1848.45) from previous day’s settlement price to close at 15,320 Yuan (₹171,626.62) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber rates (₹/kg): RSS 4:164.50 (164); RSS 5: 160 (159); ISNR 20: 149.50 (149.50) and Latex (60% drc): 127.50 (126.50).One-day trainingThe Rubber Board is organising a one-day training in latex harvest technology on March 23 at Rubber Training Institute, Kottayam. The training includes Low Frequency Tapping, Controlled Upward Tapping, Application of stimulants, etc.
The training fee is ₹500 (18% GST+ 1% flood cess extra). SC/ST candidates will be given 50% concession in fee on production of caste certificate. Members of Rubber Producers' Societies will get 25% concession in fee on production of membership certificate. The fee can be paid direct to Account No. 1450300184 of Central Bank of India (IFSC Code: CBIN0284150). Applications can be sent by email along with the details of bank receipt.
