Covid second wave saps rubber
April 19, 2021
Sheet rubber slips to ₹164/kg Spot rubber fell in tandem with the heavy losses in domestic futures on Monday. The second wave of Covid-19 is getting worse, making both stock and commodity markets more risky.
The re-imposition of lockdowns in highly infected areas and the sharp decline in investors’ wealth have affected trading in commodities very badly.
RSS-4 declined to ₹164 (166.50) per kg, according to traders and the Rubber Board. The grade finished flat at ₹159 (161.50), according to dealers. The volumes were low.
In futures, the front month April delivery shed 4.78 per cent from Friday’s settlement price to close at ₹157.25 per kg with a volume of 82 lots on the Multi Commodity Exchange (MCX).
March 10, 2021
Spot rubber prices shoot up
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.
The Rubber Board is organising a two-day training in latex harvest technology on January 12-13 at Rubber Training Institute, Kottayam.The training includes latex harvesting, different types of tapping