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Aravindan

Kottayam, Aug. 13 Spot rubber prices made sharp gains on Wednesday. The acute shortage of the raw material and panic short covering kept the market activities on fire.

RSS 4 flared up to Rs 140 from Rs 137.50 a kg both at Kottayam and Kochi as traders remained extremely aggressive on the grade during the session. The transactions were narrow. The domestic price of the natural rubber ruling considerably above the international price is not favourable to the growers in the long run, said Mr. Sajen Peter, Chairman, Rubber Board.

But since the petroleum price is slowly coming down during the past few weeks, rubber will not continue at higher levels for a long time. Therefore, holding the stock further will be detrimental to the rubber growers, he warned.

In the international front, RSS 3 improved at its August futures to ¥329.8 (Rs 129.17) from ¥325.5, September to ¥324.8 (319.7), October to ¥319.2 (315), November to ¥315.6 (311), December to ¥309.8 (307.3) and January to ¥309 (304.4) a kg at TOCOM. The grade (spot) closed at Rs 124.54 a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 140 (137.50); RSS-5: 137 (135); ungraded: 131 (128.50); ISNR 20: 134 (132.25) and latex 60 per cent: 85 (83.50).

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