Financial Daily from THE HINDU group of publications
Wednesday, Jan 18, 2006
Financial Daily from THE HINDU group of publications Wednesday, Jan 18, 2006 |
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Agri-Biz & Commodities
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Rubber Rubber prices at new peak on aggressive buying Our Correspondent
Kottayam , Jan. 17 SPOT rubber moved up driven by aggressive buying from covering groups and purchase agents. Moderate gains were added to all grades amidst extremely narrow arrivals. Sheet rubber RSS 4 closed at Rs 73.50 and Rs 73.25 a kg at Kottayam and Kochi against Rs 73 a kg on Monday but the transactions were low. According to an analyst, wintering of the rubber trees has adversely affected latex production to a great extent. Profit booking at higher levels followed by a technical correction in international futures kept the domestic rubber futures under pressure on NMCE. The February contract was quoted at Rs 74.65 (75.40), March at Rs 76.50 (77.35), April at Rs 77.85 (78.52) and May contract at Rs 79.05 (79.53) per kg for RSS 4. The February futures for RSS 3 declined to 218.1 yen ( Rs 84.25) against 221 yen a kg at TOCOM. The grade improved sharply to Rs 83.25 from Rs 81.87 a kg at Bangkok spot. Physical prices a kg were: RSS-4 Rs 73.50 (Rs 73); RSS-5 Rs 72 (Rs 71.50); ungraded Rs 70.50 (Rs 70); ISNR 20 Rs 71 (Rs 70.75); and latex 60% Rs 52 (Rs 52).
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