Business Daily from THE HINDU group of publications
Friday, Dec 08, 2006
ePaper
Business Daily from THE HINDU group of publications Friday, Dec 08, 2006 ePaper |
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Agri-Biz & Commodities
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Rubber Spot rubber tops Rs 80/kg Aravindan
Kottayam , Dec. 7 Spot rubber flared up further on Thursday. RSS 4 improved to Rs 80 and Rs 80.50 a kg respectively at Kottayam and Kochi against Rs 79 a kg on better demand. Certain tyre companies were buyers at current level though market observers alleged that speculation was behind the current increase. "We do experience the shortage of rubber though we are moving through the first phase of peek production season," a dealer said. "It may take some more time to get results from the most favourable weather. Actually we have enough genuine demand to justify the recent spurt," he added.
Futures better
The rubber futures continued to rule better in the domestic commodity exchanges. The Most active January contract closed at Rs 81.55 (Rs 79.87) a kg trading 492 lots on MCX. On NMCE, the December contract downed the shutters at Rs 82 (Rs 80.59), January at Rs 82.25 (Rs 81.19), February at Rs 84 (Rs 83.16) and March at Rs 85.55 (Rs 84.45) per kg for RSS 4.Spot prices per kg were: RSS-4: Rs 80 (Rs 79); RSS-5: Rs 78 (Rs 76.50); ungraded: Rs 76(Rs 75.50); ISNR 20: Rs 77.50 (Rs 76) and latex 60 per cent: Rs 50.50 (Rs 49.45).
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