Financial Daily from THE HINDU group of publications
Thursday, Dec 23, 2004
Financial Daily from THE HINDU group of publications Thursday, Dec 23, 2004 |
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Agri-Biz & Commodities
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Rubber Centre's assurance boosts rubber prices Our Correspondent
Kottayam , Dec. 22 REACTING to the statement of the Union Commerce Minister, Mr Kamal Nath, that the Government would protect the interests of the growers in case of a price fall below Rs 50 a kg, domestic rubber market improved on Wednesday. All grades gained smartly on moderate purchases from different sectors. Covering groups and purchase agents were also active as the arrivals continued to be sluggish. Growers seemed to be more confident and most of them who did not require urgent cash were holding stocks anticipating higher quotations in future. The NMCE futures stayed in tune with the overseas markets. The January delivery was quoted at Rs 54.23 (54.02), February delivery at Rs 55.49 (55.02), March delivery at Rs 56.70 (56.11) and April delivery at Rs 57.80 (57.26) per kg for RSS 4. The spot market rates per kg were: RSS 4 Rs 53.25 (52.75), RSS 5 Rs 50.50 (50.00), ungraded Rs 49.00 (48.50), ISNR 20 Rs 50.75 (50.50), latex 60% Rs 40.50 (40.00).
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