Financial Daily from THE HINDU group of publications
Monday, Mar 06, 2006
Financial Daily from THE HINDU group of publications Monday, Mar 06, 2006 |
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Agri-Biz & Commodities
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Rubber Rubber futures may decline Vipin V Nair
Kochi , March 5 Natural rubber futures may slide next week, continuing the trend witnessed during the previous week, as the March contract is coming to an end and physical supplies are likely to improve. "March contract is ending on the 15th... There could be a melt down because of that," said Mr C P Krishnan, Senior Vice-President of Geojit Commodity Futures.He said rising rubber stocks with the warehouses could also have an impact on futures market as more physical deliveries are slated to happen. Sporadic rains in rubber growing areas too could have bearing on the market sentiments, as those growers who have been holding onto their stocks would not be offloading them. Rains during this period would help yield, bringing more commodity into the market.
Rates tumble
The previous week saw prices tumbling down across all contracts. The March contract lost Rs 2.54 a Kg while the April contract too shrunk by a similar rate. The contract for May witnessed a dip of Rs 3.08 a kg and June contract ended by Rs 3.06 by weekend from the opening date. The volatility in Asian markets was blamed for the drop in domestic futures' prices. Even when the prices on Tokyo prices moved, domestic prices suffered losses. "Indian market behaved unusually during the week. As per the technicals, the prices should have moved up," Mr Krishnan said.
More Stories on : Rubber | Commodity Exchanges
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