Spot rubber regained strength tracking the global gains on Monday. RSS-4 improved to ₹158 (157.50) per kg, according to traders and the Rubber Board. The grade firmed up to ₹154 (153.50), according to dealers.
The trend was mixed as ISNR20 and Latex closed unchanged amidst low volumes.
Meanwhile, crude oil prices tumbled in response to the concerns over a fast spreading new coronavirus strain in the UK. The resultant tighter restrictions in UK and other European countries can stall a recovery in the global economy, reports said.
Natural rubber futures closed higher in day time trading on Shanghai Futures Exchange (ShFE). The near month January 2021 delivery was up by 260 Yuan (₹2,934.58) to close at 14,700 Yuan (₹165,916.91) a tonne.
RSS 3 (spot) improved to ₹173.77 (172.84) per kg at Bangkok. SMR 20 firmed up to ₹118.65 (117.85) and Latex to ₹108.66 (108.12) per kg at Kuala Lumpur.
Spot rubber rates (₹/kg): RSS-4:158 (157.50); RSS-5: 148.50 (148); ISNR 20: 130 (130) and Latex (60% drc): 106 (106).
Controlled upward tapping
Rubber growers can contact Rubber Board Call Centre to seek information about Controlled Upward Tapping (CUT). According to a press release issued by the Board, CUT is a proven harvesting practice to achieve sustainable high yield for long term from old and senile trees. It can be practised from renewed panel stage onwards on the virgin bark above the basal panel. R Rajagopal, Senior Scientist, Rubber Research Institute of India, will answer the questions on this subject on December 23 from 10 am to 1 pm. The Call Centre number is 0481-2576622.
This article is auto-generated by Algorithm Source: www.thehindubusinessline.com