Continuous rains strengthen rubber price in Kerala
The obstruction in rubber tapping due to continuous rains has reduced the flow of goods to the market. Although tire companies and small rubber manufacturers are showing interest in the market, rubber price in Kerala are not reaching the level expected by farmers. Future traders are trying hard to keep prices down but the interest shown by rubber manufacturers is giving hope to the market. Farmers and rubber dealers are reluctant to enter the rubber market in the hope that rubber price in Kerala will rise. In Kerala, RSS4 fourth grade rubber is traded at RS.133, while fifth grade rubber is trading at Rs. 130 levels. Rubber scrap 80% DRC is trading at Rs 77 and 75% DRC is at Rs.67. 60% DRC Latex is trading at Rs.80 / kg while Field Latex is trading the level of Rs.100-102.
At the Indian Commodity Exchange(ICEX), the August contract traded up by Rs 320 at Rs 13,450. The Bangkok spot market is up by Rs 146 at Rs 120.10. The Tokyo commodity exchange, October contract is up by Rs 148 at Rs 115.20.
Last week, 500 tonnes of rubber was traded at the Kochi Rubber Market. Dealers of tire companies also bought 1,500 tonnes of rubber. Farmers and traders are expecting rubber price in Kerala to rise again if heavy rains and tapping are hampered.
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