Financial Daily from THE HINDU group of publications
Monday, Apr 03, 2006
Financial Daily from THE HINDU group of publications Monday, Apr 03, 2006 |
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Agri-Biz & Commodities
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Rubber Supplies to show way to rubber futures Vipin V. Nair
Kochi , April 2 Tightening supplies in the spot market may have a bearing on the natural rubber futures, pushing the prices moderately upwards during the week. "The market should be active and become energetic during the week. I expect futures to go up," a trader, who did not want to be identified, said. One of the reasons that would impact prices is the shrinking stock position in the domestic market. The market has just about one-and-a-half months stocks as per industry estimates. Natural rubber production in March was estimated to be around 43,000 tonnes, as against monthly average consumption of 67,000 tonnes. Production is lower in March as tapping nearly comes to an end because trees shed their leaves. Production will be lower till August-September on account of summer and subsequent monsoon. Peak production starts from September onwards. It is expected that Indian natural rubber prices would rise further to match international rates in the coming months. Price of RSS-3 grade rubber, comparable with India's benchmark RSS-4 grade, is around Rs 10 a kg dearer in Bangkok. April futures may not be very active in the week because of a series of holidays coming before the cut-off date of 15th. However, May futures are likely to witness some action during the week.
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