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Aravindan

Kottayam April 27 Spot rubber declined sharply on Friday. The rates nose-dived lacking buyers amidst an almost panic selling from traders who were not even aware of the reason why the market fell, an observer said. Sheet rubber RSS 4 moved down to Rs 85 from Rs 86.50 a kg both at Kottayam and Kochi.

"Rubber is technically weak both internally and internationally,'' Mr. Sajilnath ofGeojit Commodities Ltd told Business Line.'' We observe the fall as a result of this technical weakness''.

Futures weak

On NMCE, the May contract surrendered to Rs 82.83 (86.06), June to Rs 84.75 (88.64), July to Rs 87.40 (91.17) and August to Rs 87.70 (91.60) per kg for RSS 4.The May contract for the grade moved down to Rs 84 from Rs 86.74 a kg on MCX.

Spot prices were (Rs/kg): RSS-4: 85 (86.50); RSS-5: 84.25 (85.50); ungraded: 83 (84.50); ISNR 20: 84 (85.25) and latex 60 per cent: 63.15 (63.65).

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