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Aravindan

Kottayam, Dec. 8 The physical rubber prices were steady on Monday. The market activities were in an extremely low key as most of the traders were in a holiday mood owing to Bakrid. Sheet rubber closed flat at Rs 59 a kg as on Saturday last.

Meanwhile RSS 4 improved at its January futures to Rs 60.06 from Rs 58.45 a kg on NMCE. The current fall in rubber prices has destroyed the farming sector as a whole creating much hardship to the rubber growing community. Both the Centre and the State Governments are bound to rescue them from this difficult situation, Mr Joy Nadukkara, Ex MP and President, Meenachil Rubber Marketing and Processing Cooperative Society Ltd told Business Line. “The only alternative at this time is to export as much rubber as possible giving some subsidy to overcome the crisis,” he said.

In the global scene, the December futures for RSS 3 improved to ¥104.8 (Rs 55.67) from ¥95, January to ¥106.5 (97), February to ¥109.9 (100.7), March to ¥113.3 (103), April to ¥115.1 (105.2) and May to ¥117.7 (108.6) a kg at TOCOM.

Spot rates (Rs/kg) were: RSS-4: 59 (59); RSS-5: 57 (57); Ungraded: 54 (54); ISNR 20: 56.50 (56.50) and Latex 60 per cent: 44 (44).

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