The Hindu Business Line : Rubber prices soften as buying dries up

SPOT rubber prices softened again in the absence of favourable trend setting factors. Covering purchases dried up after a day's recovery triggered by scandals on a possible review of VAT related issues.

According to marketmen, a positive move from the Government will initiate another strong upward move in the market, as the arrivals are low following the end of tapping season.

RSS 4 moved down to Rs 51.25 and Rs 51.50, respectively at Kottayam and Kochi from Rs 50.75 on Tuesday.

The rubber futures turned better on Wednesday. The March contract was traded at Rs 52.29 (Rs 52), April at Rs 55.60 (Rs 55.38), May at Rs 57.31 (Rs 57.01) and June at Rs 58.46 (Rs 58.23) a kg for RSS 4.

The spot rubber prices per kg were RSS-4: Rs 51.25 (Rs 51.75); RSS-5 Rs 50 (Rs 50); ungraded Rs 49.50 (Rs 49.50); ISNR 20 Rs 50 (Rs 50.50); and latex 60 per cent Rs 38 (Rs 38.50).

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