The Hindu Business Line : Monsoon arrival boosts rubber

THE rubber market firmed up as southwest monsoon has set in all over the State with widespread showers. Though a majority of the growers are reported to be using rain guards since the prices are ruling high, the market operators forecast further shortage of rubber during the season.

Sheet rubber moved up to Rs 64 from Rs 63.50 a kg followed by an all-round improvement in major grades. The only loser was ISNR 20, which shed 25 paise on extremely low demand reacting to imports. Trading volumes were dull due to a hartal at Kottayam.

The NMCE futures showed better trend with moderate volumes except for its September contract which was weak at Rs 60 (Rs 60.29) a kg on Monday. The June contract was quoted at Rs 64.31 (Rs 63.92); July at Rs 65.30 (Rs 64.63); and August at Rs 62.98 (Rs 62.42) a kg for RSS 4. RSS 3 closed better at Rs 62.38, against Rs 61.85 a kg at Bangkok. At TOCOM, the July futures for the same grade improved to 159 yen from 155 yen.

The spot rubber prices on Monday were: RSS-4 Rs 64 (Rs 63.50); RSS-5 Rs 62 (Rs 61.50); ungraded Rs 60 (Rs 59.50); ISNR 20 Rs 58.75 (Rs 59); and latex 60% Rs 41 (Rs 40).

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

Stories in this Section
Crude futures catching fancy of bullion, equity investors

Wheat stocks plummet to 14.3 mt

Monsoon arrival boosts rubber

Khaitans acquire Magors' tea gardens for Rs 170 cr

97 pc workers subscribe for shares in Kanan Devan

Small tea growers abandoning harvest

Coonoor tea prices dip on low demand

Speculation driving gold higher

Centre agrees to subsidise cotton export from Maharashtra

Cotton prices dip below MSP in TN

`Flavourit' brand spices sales top Rs 10 lakh

CPI(M) seeks relief for the project displaced in AP