The Hindu Business Line : Rubber buyers turn cautious

SPOT rubber was steady on Monday. Both buyers and sellers appeared inactive and most of them were on the sidelines adopting a wait and watch policy though the leading overseas markets were better.

Market activities declined to a minimum amidst scattered buying and selling and the trend seemed to be neutral. A drowsy mood was observed in the main marketing centres as the proposed introduction of VAT from April 1 and the confusion regarding the purchase tax began to affect the dealer's sentiments. Against expectations, the NMCE rubber futures turned weak though TOCOM closed better. The February contract was quoted at Rs 53.67 (Rs 53.90), March at Rs 54.85 (Rs 55.02), April at Rs 57.02 (Rs 57.02) and May at Rs 57.98 (Rs 58.02) per kg for RSS 4. The volumes were average.

At TOCOM the February futures for RSS 3 improved to 127.6 yen from 124.1 yen and at Bangkok the same grade improved by 12 paise to 52.50 against the previous closing.

The spot market rates per kg were: RSS 4 Rs 53.50 (Rs 53.50); RSS 5 Rs 52 (Rs 52); ungraded Rs 51 (Rs 51); ISNR 20 Rs 51.75 (Rs 51.75); and latex 60% Rs 40 (Rs 40).

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Research project on jatropha, pungam okayed

Fishy imports

Rubber buyers turn cautious

Andhra Sugars Q3 net up 56 pc

Tea advisory panel set up

Spices exporters want advance licence for pepper imports restored

Shift to resource-based farm policies: Expert

Foodgrain output seen at 206.39 mt on rabi turnaround

Farmers in distress