India Rubber: Hits 2-month high on ICEX tracking spot, TOCOM cues

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By Rahul Dhuri

– The most-active November contract of on the Indian Commodity Exchange ended at a two-month-high of 12,900 rupees per 100 kg, up 0.5% from the previous close, tracking gains in key markets of Kerala and rise in benchmark contracts on Commodity Exchange.

Prices of natural rubber rose in the spot markets of Kerala today due to a fall in arrivals amid renewed from domestic stockists, traders said.

Arrivals have declined as rains in key producing areas disrupted tapping activity. However, sluggish demand from tyre makers is seen capping the rise in prices, Palakkad-based trader Sudhakaran K. said.

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The widely-traded RSS-4 variety was at 125-126 rupees per kg, up 1-2 rupees from the previous day, traders said. On week, spot prices for the commodity have risen by 2-3 rupees.

data showed the was 125.00 rupees per kg in Kottayam and Kochi, unchanged in both the markets.

On TOCOM, ended higher on concerns over supply of the commodity, said. The most-active April contract of natural rubber on the Japanese bourse ended at 180.00 yen (around 116.9 rupees) per kg, up 1.2% from the previous close. 

Expectation of a fall in global output due to outbreak of a fungal disease in lifted prices of the commodity. is the world’s largest producer and exporter of rubber, and accounts for up to 40% of the global supply.

Prices of the RSS-3 variety in Thailand rose 65 cents to $148.50 per 100 kg, Rubber Board data showed. Price of the SMR-20 variety rose $2.45 to $135.65 per 100 kg.

The following table shows today’s closing prices of rubber, in rupees per kg, as detailed by the Rubber Board, and the change in prices, in rupees, compared with the previous close:

KOTTAYAM

KOCHI

GRADE

PRICE

CHANGE

PRICE

CHANGE

RSS-4

125.00

Unch

125.00

Unch

RSS-5

123.00

Unch

123.00

Unch

ISNR-20

114.50

Unch

NA

     NA

Latex

93.00

(-)1.05

NA

     NA

OUTLOOK

Rubber contracts on the Indian Commodity Exchange are seen continuing their uptrend for the next five to six sessions, tracking gains in the key markets of Kerala, traders said. End

US$1 = 70.69 rupees

Edited by Shirsha Thakur

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