Financial Daily from THE HINDU group of publications
Saturday, Feb 28, 2004
Financial Daily from THE HINDU group of publications Saturday, Feb 28, 2004 |
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Agri-Biz & Commodities
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Rubber Rubber market in corrective phase Our Correspondent
Kottayam , Feb. 27 AFTER touching an eight-year's peak at Rs 57 per kg on Wednesday since 1996, the corrective phase that started on Thursday continued to prevail in the market on Friday. Growers and traders sold rubber anticipating further weakness. According to sources, the rates sustained at current levels mainly on covering purchases. In the domestic market, sheet rubber RSS 4 declined to Rs 55.50 against Rs 56.50 a kg. At Bangkok, RSS 3 improved to Rs 59.92 from Rs 59.80. The TOCOM March features for RSS 3 fell to 144.2 yen from 146.7 yen on Thursday. The futures market followed the weak trend quoting the near month March delivery at Rs 54.87 (55.91), April delivery at Rs 56.40 (57.46), May delivery at Rs 58.80 (59.89) and June delivery at Rs 61.31 (62.37) per kg for RSS 4.
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