Business Daily from THE HINDU group of publications
Tuesday, Mar 20, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Mar 20, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Spot rubber prices firm up a tad Aravindan
Kottayam March 19 Spot rubber firmed up marginally on Monday. The market reacted favourably to the gains in overseas indices. RSS 4 improved to Rs 88.50 from Rs 88.25 a kg at Kottayam, while it closed unchanged at the same level at Kochi as on Saturday. The trend was mixed. "We did not have any selling pressure in spot since most of the rubber men preferred to sell their stocks in futures where they would get a better price,'' an observer said. Hence the selling phenomenon in domestic futures. The only hurdle is to take your produce to the warehouse and get a receipt''.
Futures weak
The rubber futures continued to remain under pressure on NMCE. The April contract declined further to Rs 90 (90.61), May to Rs 93.59 (94.76), June contract to Rs 96.95 (97.92) and July to 98.66 (99.89) a kg for RSS 4. The volumes totalled 2,332 (1,227) lots. The open interest was 12,073 (12,044) tonnes with 4876 tonnes in April, 5367 tonnes in May, 1644 tonnes in June and 186 tonnes in July. The April delivery contract for RSS 4 was quoted at Rs 90.85 a kg against Rs 91.56 on MCX. Spot rubber prices were (Rs/kg): RSS-4: 88.50 (88.25); RSS-5: 87 (87); ungraded: 86.50 (86.25); ISNR 20: 86.50 (86.50) and latex 60 per cent: 63.15 (63.15).
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