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Saturday, Aug 28, 2004

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Agri-Biz & Commodities - Rubber

Rubber futures up on renewed buying

Our Correspondent

Kottayam , Aug. 27

THE spot rubber market was closed on Friday on account of Onam holidays.

The futures flared up further on renewed buying interest quoting the September delivery at Rs 55.95 (55.53) on Friday. The October delivery was quoted at Rs 53.70 (53.50), November delivery at Rs 52.89 (52.63) and December delivery at Rs 52.50 (52.30) per kg for RSS 4.

The market opened much better but profit booking at higher levels put pressure on the prices to surrender part of the gains towards mid-session. According to sources the volumes were also better and the market still appeared to be in a buyers mode.

Both physical and futures markets will remain closed on Saturday also.

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