Business Daily from THE HINDU group of publications
Saturday, Dec 02, 2006
ePaper
Business Daily from THE HINDU group of publications Saturday, Dec 02, 2006 ePaper |
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Agri-Biz & Commodities
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Rubber Spot rubber prices unchanged Aravindan
Kottayam , Dec. 1 Physical rubber rates closed unchanged on Friday. The market opened higher on positive hopes but heavy losses in TOCOM futures, which fell reacting to profit booking and short selling, hammered the prices towards midday. RSS 4 hit Rs 79 in the morning session at Kottayam but retreated later to Rs 78 a kg on moderate selling from dealers. The grade closed weak by 50 paise at Rs 77 a kg at Kochi. "The Arrivals would improve soon on favourable weather," a trader said. "We have excellent reports on production. Tapping also has resumed in full swing ''.
Futures decline
In rubber futures, the December contract declined to Rs 76.46 from 79.31 a kg on MCX. The transactions stood at 348 (368) lots. The last traded price for the December contract moved down sharply on NMCE to Rs 77.00 (Rs 80.24), January to Rs 76.20 (Rs 80.50), February to Rs 78.00 (Rs 82.45) and March to Rs 79.30 (Rs 83.45) a kg for RSS 4. The transactions totalled 3,646 (3,539) tonnes and open interest 5,831 (5,930) tonnes. The per kg spot prices were: RSS-4: Rs 78 (Rs 78); RSS-5: Rs 76 (Rs 76); ungraded: Rs 74 (Rs 74); ISNR 20: Rs 75.25 (Rs 75.50) and latex 60 per cent: Rs 49.45 (Rs 49.45).
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