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Aravindan

Kottayam, Oct. 13 Rubber rates continued to rule weak on Monday. RSS 4 slipped to Rs 81 from Rs 83 a kg on buyer resistance.

The domestic market seemed blindfolded as the trendsetting Tokyo Commodity Exchange (TOCOM) remained closed on account of Health and Sports Day.

Though widespread rains kept the traders slightly confused, the absence of strong consumer support pushed down the prices to lower levels. The volumes were not so impressive.

The declining trends in oil prices triggered by global recession and falling international markets contributed the steep fall from Rs 142 a kg to Rs 81 reported on Monday, Prof. Devasia, an analyst and a small grower told Business Line.

There are possibilities that the prices would finally settle somewhere near Rs 60, he anticipated. Meanwhile in the international front, RSS 3 (spot) nosedived to Rs 97.10 from Rs 103.59 a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 81 (83); RSS-5: 79 (80); ungraded: 74 (75); ISNR 20: 78 (79) and latex 60 per cent: 70 (70).

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