Financial Daily from THE HINDU group of publications
Wednesday, Oct 20, 2004
Financial Daily from THE HINDU group of publications Wednesday, Oct 20, 2004 |
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Agri-Biz & Commodities
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Rubber Bull domination in rubber market Our Correspondent
Kottayam , Oct. 19 BULLISH sentiment dominated the physical rubber market on Tuesday. The gap between the demand and supply positions widened as the covering groups and purchase agents continued to chase the sellers. According to dealers from village markets, the availability of the raw material remained sparse though intensified tapping was reported from the plantations. The weather predictions also do not favour enhanced arrivals in short term. The rubber futures maintained the positive trend amidst a weak Tocom closing. The near month November delivery was quoted at Rs 54.68 (Rs 54.42); December delivery at Rs 55 (Rs 54.88); January delivery at Rs 56 (Rs 55.85); and February delivery at Rs 57.10 (Rs 57.01) per kg for RSS 4. The spot market rates per kg on Tuesday were: RSS 4 Rs 54 (Rs 53); RSS 5 Rs 53 (Rs 52.25); ungraded Rs 50 (Rs 49.75); ISNR 20 Rs 52.50 (Rs 52.00); and latex 60 per cent Rs 40.50 (Rs 40.50).
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