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Our Correspondent

Kottayam , Feb. 1

SELLING by dealers and traders depressed the spot rubber rates again on Tuesday.

According to market circles, dealers are expected to pay a tax of 12.65 per cent for the stock held at the end of current financial year.

When VAT comes into force from April 1, the same tax rates will fall to 4 per cent. So, reducing stocks to avoid paying higher taxes have triggered the ongoing offloading from dealers.

Both at Kottayam and Kochi, sheet rubber RSS 4 declined to Rs 52 from Monday's Rs 52.50 a kg.Cloning the spot market sentiments, NMCE futures fell further, quoting the February contract at Rs 51.05 (Rs 51.61) a kg on Tuesday. The March contract was quoted at Rs 52.30 (Rs 52.72), April contract at Rs 55.38 (Rs 55.62) and May contract at Rs 56.42 (Rs 56.81) per kg for RSS 4. Volumes were low.

The physical rubber rates (per kg) were: RSS-4: Rs 52 (Rs 52.50); RSS-5: Rs 50.50 (Rs 50.75); ungraded: Rs 49.50 (Rs 50.25); ISNR 20: Rs 51 (Rs 51); and latex 60 per cent: Rs 39.50 (Rs 39.50).

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