Financial Daily from THE HINDU group of publications
Friday, May 26, 2006
Financial Daily from THE HINDU group of publications Friday, May 26, 2006 |
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Agri-Biz & Commodities
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Rubber July rubber contracts exceed Rs 110/kg Aravindan
Kottayam , May 25 RSS 4 was quoted at Rs 106 a kg against Rs 102.50 and Rs 103, respectively, at Kottayam and Kochi on Thursday. The spot market is suffering from acute short supply even at record levels. Covering groups are exploring the situation, lifting the prices to breathtaking levels, while favourable global trend guides the market mood. The immediate target is predicted at Rs 110 per kg for sheet rubber. But an unexpected correction in international markets may create panic in the domestic scene at any time, an analyst said.
Futures gain
Rubber futures stayed a bit ahead with record gains on NMCE. The June contract was traded at Rs 109.05 (106.31), July at Rs 111.20 (108.50), August at Rs 109.17 (105.66) and September contract at Rs 107.10 (103.64) per kg for RSS 4.
RSS 3 improved further to Rs 118.29 from Rs 117.29 a kg at Bangkok spot. The June futures for the grade closed at 295.5 yen (Rs 120.24) against 291.2 yen a kg at TOCOM. Spot prices (Rs a kg) were : RSS-4: 106 (102.50); RSS-5: 100 (98); ungraded: 96 (95) ISNR 20: 97 (95.50) and latex 60% (per ltr): 74 (73.50).
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