Business Daily from THE HINDU group of publications
Thursday, Aug 17, 2006
Business Daily from THE HINDU group of publications Thursday, Aug 17, 2006 |
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Agri-Biz & Commodities
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Rubber Mixed trend in spot rubber Aravindan
Kottayam , Aug 16 A mixed trend was observed in spot rubber on Wednesday. Continuous rains all over the plantations kept sheet rubber steady at Rs 93 a kg at Kottayam even in the absence of major buyers on the grade. But it declined to Rs 92.50 at Kochi from Rs 93.50 a kg on Monday reacting favourably to the weak domestic and international futures markets. Most of the grades lost on buyer resistance though the volumes were extremely narrow lacking sellers. According to growers, it is almost impossible to tap the trees in the prevailing weather conditions.
Futures decline
The rubber futures declined on NMCE. The September contact was quoted at Rs 90.40 (Rs 90.83), October at Rs 87.60 (Rs 87.81), November at Rs 87.49 (Rs 88.03) and December at Rs 88.00 (Rs 88.50) per kg for RSS 4. The transactions stood at 717 tonnes till noon. At TOCOM, the September futures for RSS 3 declined further to 249.8 Yen (Rs 100.22) from 256 Yen a kg on Tuesday. Physical rubber prices per kg were: RSS-4: Rs 93.00 (Rs 93.00); RSS-5: Rs 91 (Rs 91.50); ungraded: Rs 87.50 (Rs 88.50); ISNR 20: Rs 90.50 (Rs 91) and latex 60 per cent: Rs 73.67 (Rs 73.67).
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