Domestic rubber markets made further declines on Monday. The local prices continued to post moderate losses tracking the overall weakness in NR futures on the National Multi Commodity Exchange. ‘There has been no indication of a recovery in the commodity as expected even after the peak production season probably due to so many other factors. But the fact is that the growing community is in real trouble at current price levels’ a trader said.
Sheet rubber weakened to Rs 156 (157) a kg according to traders. The grade dropped to Rs 156.50 (157) a kg at Kottayam and Kochi as quoted by the Rubber Board.
The February series declined to Rs 155.15 (156), March to Rs 157.20 (158.33), April to Rs 160.24 (161.33) and May to Rs 163.80 (164.59), while the June series improved to Rs 169.89 (167.59) a kg on NMCE.
RSS 3 (spot) slipped to Rs 175.47 (175.58) a kg at Bangkok. The Tokyo Commodity Exchange (TOCOM) remained closed on account of National Foundation Day.
Spot rates were (Rs/kg): RSS-4: 156 (157); RSS-5: 152 (152.50); ungraded: 146 (147); ISNR 20: 152 (153) and latex 60 per cent: 101 (101).
Keywords: Rubber rates