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Aravindan

Kottayam, July 2 The rubber prices made sharp gains on Wednesday. The market reacted in tandem with the global mood and RSS 4 moved up to Rs 133 a kg from Rs 131.50 a kg as covering groups and purchase agents remained active in the session.

“Even the village markets are suffering from short supply and we expect the produce to remain firm during the season,” a dealer said.

Certain major manufacturers were buyers on sheet rubber up to Rs 132 a kg, while strong export presence was also felt in almost all counters.

“The market is poised towards yet another historic high though the suspension of domestic futures has drained its purchasing power considerably ,” an observer said.

RSS 3 firmed up at its July contract to ¥346.9 (Rs 140.56) against ¥341.7, August to ¥346.9 (¥342.9), September to ¥347.6 (¥344.5), October to ¥348.7 (¥345.0), November to ¥379.5 (¥346.3)and December to ¥351.9 (¥348.8)a kg at TOCOM. The grade finished at Rs 142.04 (141.19) a kg at Bangkok spot.

Spot prices were (Rs/kg): RSS-4: 133 (131.50); RSS-5: 132 (130); ungraded: 128.50 (127.50); ISNR 20: 132 (130) and latex 60 per cent: 89 (89).

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