The Hindu Business Line : Spot rubber stays steady

Kottayam, Jan. 28 The physical rubber rates were steady despite an all-round decline in domestic and global futures. RSS 4 closed unchanged at Rs 94 a kg at Kottayam but the grade slipped by 25 paise to Rs 93.75 a kg at Kochi. The market managed to sustain at the quoted levels since there has been no selling pressure in the main marketing centres, sources said.

“The peak production season has not shown any considerable increase in production may be due to weather related reasons. “I am getting only 7 sheets as against the usual 21 that too in alternate days,” Mr Panoose, a grower told Business Line. RSS 3 weakened at its February futures to ¥276.9 (Rs 102.45) from ¥277.8 a kg at TOCOM. It was almost steady at Rs 102.62 (102.60) a kg at Bangkok spot.

Futures decline

The rubber futures moved ahead the global trend quoting the March contract at Rs 95.35 (96.94) a kg on MCX. The February futures fell sharply to Rs 93.80 (95.42), March to Rs 95.33 (97.28), April to Rs 97.50 (99.29) and May to Rs 99.41 (101.44) per kg on NMCE. The volumes totalled 788 (678) tonnes transacting 278 (280) tonnes in February, 343 (227) tonnes in March, 123 (106) tonnes in April and 44 (65) tonnes in May.

Spot prices were (Rs/kg): RSS-4: 94 (94); RSS-5: 91.50 (92); ungraded: 90 (90); ISNR 20: 90.75 (90.75) and latex 60 per cent: 59 (59).