Financial Daily from THE HINDU group of publications
Saturday, Mar 12, 2005
Financial Daily from THE HINDU group of publications Saturday, Mar 12, 2005 |
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Agri-Biz & Commodities
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Rubber Rubber declines as traders book profits Our Correspondent
Kottayam , March 11 REPORTS on intensified night rains all over the plantation areas triggered another downtrend in spot rubber market on Friday. It is reported that traders preferred to book profits as buyers retreated expecting the prices to seek further lows following a favourable turn in climate. Sheet rubber declined to Rs 53.50 from Rs 54.25 a kg at Kottayam and Rs 54.00 from Rs 54.50 a kg at Kochi. The NMCE rubber continued to rule weak on Friday. The March contract was quoted at Rs 53.00 (Rs 53.64), April at Rs 55.75 (Rs 56.86), May at Rs 57.72 (Rs 57.80) and June contract at Rs 59.00 (Rs 59.30) per kg for RSS 4. At Bangkok, RSS 3 closed better at Rs 57.34 against Rs 57.23 a kg on Thursday. The April futures for RSS 3 slipped to 134.9 yen from 135.7 yen at TOCOM. The physical rubber prices per kg were as follows: RSS-4 : Rs 53.50 (Rs 54.25); RSS-5 : Rs 52.50 (Rs 53.00); ungraded : Rs 51.75 (Rs 52.50); ISNR 20 : Rs 52.75 (Rs 53.25) and latex 60% : Rs 39.00 (Rs 39.50).
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