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Spot rubber stays flat in listless trade

Spot rubber stays flat in listless trade

Spot rubber continued to remain neutral on Thursday . The commodity managed to sustain at the prevailing levels as there were no genuine sellers in the local trading houses despite another weak closing in major overseas markets. According to observers, a clear trend can be expected only after March.

RSS 4 closed unchanged at ₹169 a kg as per traders and the Rubber Board. The grade finished flat at ₹164, according to dealers. The trend was partially mixed as latex closed lower on buyer resistance.

In futures, the March delivery was down 0.22% from Wednesday’s settlement price to close at ₹ 167.50 per kg on the Multi Commodity Exchange (MCX).

RSS 3 (spot) weakened to ₹164.32 (165.27) per kg at Bangkok. SMR 20 declined to ₹125.72 (127.02) and Latex to ₹121.08 (121.50) per kg at Kuala Lumpur.

The most active natural rubber contract for May delivery was down 110 Yuan (₹1221.45) from previous day’s settlement price to close at 14,125 Yuan (₹156,846.33) a tonne in day time trading on Shanghai Futures Exchange (ShFE).

Spot rubber rates (₹/kg): RSS 4:169 (169); RSS 5: 166 (166); ISNR20: 155.50 (155.50) and Latex (60% drc): 128 (129).

Rubber Demo Project

The Rubber Demo Project at Central Experiment Station (CES), Chethackal. was inaugurated by KN Raghavan, Chairman & Executive Director, Rubber Board. As per a press release issued by the Board, this Demo Project is aimed to give exposure to interested persons in rubber plantation forestry.

The one-day package includes an estate trip, food and stay. The visit also provides a chance to know about various farm practices, harvesting and latex processing. James Jacob (Director, Rubber Research Institute of India), P Sudha (Director, Rubber Training Institute), KC Surendran (Director, Finance-in-charge) and Thomas Eapen (Senior Scientist), spoke on the occasion.

The CES Chethackal located at Naranammoozhi Panchayath of Ranni Taluk in Pathanamthitta District is the major research station of Rubber Research Institute of India, with an area of 255 hectares. The research station has rubber plantations at different growth stages, rubber nurseries, processing unit and field trials at various stages of evaluation. The CES also offers outdoor attractions like Check Dam with a garden, Trekking facilities, Off-road safari, Hill climbing, Cycling circuits, etc as a part of this one-day package.

Route to CES is through Ponthenpuzha forest and adjoining Manimalayar river. Madatharuvi waterfalls, Perunthenaruvi waterfalls (15 km), Sabarimala Holy place (30 km), Konni Elephant training centre (40 km), Erumeli Sastha temple (25 km), Gavi coracle boating (45 km) and Panchalimedu hill station (45 km) are the nearby tourist attractions.

This article is auto-generated by Algorithm Source: www.thehindubusinessline.com

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