Financial Daily from THE HINDU group of publications
Saturday, Oct 16, 2004
Financial Daily from THE HINDU group of publications Saturday, Oct 16, 2004 |
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Agri-Biz & Commodities
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Rubber Rubber prices rise on buying Our Correspondent
Kottayam , Oct. 15 THE physical rubber recorded smart gains following all-round buying from different sectors. The covering groups and purchase agents began to offer higher quotations in the absence of sellers. As the Southwest monsoon has not receded and the Northeast monsoon is to arrive, the shortage of rubber might haunt the market operators in the weeks ahead. Hence the growers were almost confident about another price rise in the near future. RSS 4 moved up sharply to Rs 53 from Rs 52 while the rest of the grades except latex joined the bull run. In fact, latex 60% was steady on low trading interest. The NMCE futures turned weak quoting the near month November delivery at Rs 54.01 (54.25), December delivery at Rs 54.51 (54.73) and January delivery at Rs 55.61 (55.80) per kg for RSS 4. Meanwhile, the October delivery which expires on Friday, was quoted almost steady at Rs 53.75 against Rs 53.73 a kg on Thursday. The spot market rates per kg on Friday were: RSS 4 53 (52); RSS 5 52 (51.50); ungraded 49.50 (49); ISNR 20 51.75 (51.25); & latex 60% 40 (40).
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