Financial Daily from THE HINDU group of publications
Friday, Nov 25, 2005
Financial Daily from THE HINDU group of publications Friday, Nov 25, 2005 |
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Agri-Biz & Commodities
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Rubber Rubber firms up on short supply Our Correspondent
Kottayam , Nov. 24 SPOT rubber prices firmed up on short supply. The north-east monsoon continued to affect production in most of the plantations. Sentiments were further affected by extremely bullish international futures markets as covering groups and purchase agents turned more active, offering better quotes. Sheet rubber RSS 4 improved to Rs 64.75 and Rs 65 a kg respectively at Kottayam and Kochi respectively from Rs 64.50 on Wednesday. The NMCE rubber futures showed a mixed trend, quoting the December contract at Rs 65.75 (Rs 65.67), January at Rs 65.77 (Rs 65.96), February at Rs 66.15 (Rs 66.51) and March at Rs 66.92 (Rs 67.20) per kg for RSS 4. The December delivery contract for the same grade was quoted at Rs 65.25 (Rs 65.26) a kg on the MCX. The volumes in NMCE improved to 2,284 lots till midday, trading 1,049 in November, 989 in December, 183 in January and 63 in February. The December futures for RSS 3 improved sharply to 194.9 yen against 189.4 yen on Tuesday. The grade improved to Rs 72.98 from Rs 72.76 a kg at Bangkok. The spot prices per kg were as follows: RSS-4: Rs 64.75 (Rs 64.50); RSS-5: Rs 62.25 (Rs 62); ungraded: Rs 60.50 (Rs 60); ISNR 20: Rs 64 (Rs 63); and latex 60 per cent: Rs 43.50 (Rs 43.50).
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