Spot rubber finished flat on Friday. “There were no fresh factors or news to set a definite trend in the market and it lost direction amidst extremely dull volumes,” a trader said.
The absence of recorded trades as the commodity remained totally inactive on the Indian Commodity Exchange (ICEX) kept the local sentiments visibly neutral during the day.
RSS-4 was quoted steady at ₹129 a kg by traders and the Rubber Board. The grade closed unchanged at ₹125 a kg, according to dealers. The undercurrent was weak and any increase in arrivals might put further pressure on prices.
RSS-3 (spot) declined to ₹130.65 (130.96) per kg at Bangkok. SMR 20 improved to ₹98.72 (98.57) and Latex 60% to ₹85.53 (85.45) a kg at Kuala Lumpur.
Spot rubber rates (₹/kg): RSS-4:129 (129); RSS-5: 125 (125); ISNR-20: 109 (109) and Latex (60% drc): 77.50 (77.50).
Approval for Incentive Scheme
The Government of Kerala has given approval for implementing the sixth phase of the Rubber Production Incentive Scheme (RPIS). The scheme is envisaged to ensure ₹150 per kg of RSS-4 rubber. Growers who have not yet registered in the scheme can also register now. The registration will be open till November 30. For new registration, a copy of Aadhar Card and copy of bank passbook along with the current year land tax receipt and a photograph should be produced at respective Rubber Producer’s Societies (RPSs). According to a press release issued by the Rubber Board, purchase bills from July 1 only will be considered for those who register now.