Rubber Daily Price Kerala 05/07/2018
Rubber RSS4 Kottayam: 126.50
Rubber RSS5: 124.00
Rubber Loose: 118.00
Rubber Lot: 108.00 – 1102.00
Rubber scrap: 93.00
Rubber Latex: 80.00
Field Latex: 111.00
Rubber ISNR 20: 124.00
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MARKET REPORTS:
TOCOM hits 21-month low on weak Shanghai futures
• Benchmark Tokyo rubber futures hit their lowest level in 21 months on Wednesday, tracking weak Shanghai futures.
• Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, have also been under pressure ahead of July 6, when US tariffs on US$34 billion worth of Chinese goods are set to kick in. Beijing has said it would retaliate with tariffs on US products.
• “Amid worries over trade tensions, recent bullish crude prices have not been providing support to rubber,” said a Japanese trading source.
• The Tokyo Commodity Exchange rubber contract for December delivery finished 1.2 yen lower at 171.1 yen (US$1.55) per kg, after hitting the lowest since Oct 5, 2016 at 168.3 yen earlier in the session.
• The most-active rubber contract on the Shanghai futures exchange for September delivery fell 75 yuan to finish at 10,410 yuan per tonne.
• The front-month rubber contract on Singapore s SICOM exchange for August delivery last traded at 131.60 US cents per kg, down 1.1 cents.
Growers concerned over plunging pepper price
• Merchants and growers of black pepper fear incurring losses as the market rate of pepper has fallen by 50%. Growers have urged the Central government to intervene and come to their rescue.
• The price of pepper has randomly decreased from Rs 600 to Rs 300 per kilo. Moreover, merchants have not been purchasing pepper from farmers.
• Many growers have been cultivating pepper in their plantations as an alternative crop. Pepper would come to the rescue of farmers when coffee prices dip. This time, growers expected a rate of Rs 500 per kg as the yield was good.
• During the previous year, the Central government intervened and increased the import price of pepper to stabilise the market rate. With the slash in price, many buyers in Chikkamagaluru, Kodagu and Hassan districts have stopped purchasing the spice crop.
• The main reason for the drop in pepper rate is said to be the pepper imported from Vietnam. Poor quality pepper enters India via Sri Lanka, Bangladesh and Nepal.
• Pepper is purchased at around Rs 180 per kilo in Vietnam and is transported to India, to be sold in the local market.
