Financial Daily from THE HINDU group of publications
Friday, Jan 21, 2005
Financial Daily from THE HINDU group of publications Friday, Jan 21, 2005 |
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Agri-Biz & Commodities
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Rubber Rubber market in steady mode Our Correspondent
Kottayam , Jan. 20 Rubber prices showed a mixed trend on Thursday. The covering groups and purchase agents turned active after a short gap absorbing the arrivals. Rumours on the scarcity of the raw materialboosted the sentiments as the last lap of the peak season is almost near the finishing line. Meanwhile, posters urging the growers not to sell rubber due to the tsunami effect on overseas rubber producing regions started appearing at the rubber producing areas. Futures continued to gain, except February contract which was quoted almost steady atRs 53.98 (53.97) a kg with moderate volumes. The March contractwas quoted at Rs 55.05 (54.88),April at Rs 57.15(56.88)andMay at Rs 58.20 (57.97) per kg for RSS 4. The February futuresfor RSS 3 improved to 124.3 yen from 122.5 yen a kg at TOCOM. Spot market rates (Rs a kg)were as follows:RSS-4:53.50(52.50); RSS-5:51.50 (51.50); ungraded 50.50(50); ISNR 20 51.50(51.50); and latex 60 per cent40 (40).
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