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Our Correspondent

Kottayam , April 27

THE domestic rubber market moved up further on fresh buying and short covering amidst weak supply. Sheet rubber closed at Rs 59.75 against Rs 59.50 a kg at Kottayam and Rs 60 against Rs 59.75 a kg at Kochi as purchase agents and covering groups chased the arrivals offering better quotes.

A leading tyre manufacturer bought sheet rubber at the existing higher levels while the other consuming sectors followed suit, adding gains to major grades. Though the current climate is partially favourable for tapping, it may take a few weeks to improve the latex production. According to observers, the scarcity of rubber might continue up to the end of July depending on the weather conditions.

In the futures, May contract was quoted at Rs 60.30 (60.03), June contract at Rs 62.09 (62.11), July contract at Rs 63.10 (63.04) and August contract at Rs 62.52 (62.49) per kg for RSS 4.

Spot market rates per kg at Kottayam were as follows: RSS-4: 59.75 (59.50); RSS-5: 58.75 (58.25); ungraded: 58.25 (58); ISNR 20: 58.25 (57.50) and latex 60%: 40 (39.50).

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