Our Correspondent

Kottayam, Jan. 20

COVERING groups and purchase agents took spot rubber to further highs on Friday. The market seemed to be reeling under short supply as RSS 4 appears to be heading towards its next target of Rs 80 a kg.

According to reports from Kochi, there were no quantum sellers even at higher levels and the inflow to the major marketing centres continued to be meagre.

Sheet rubber created another record at Rs 75.50 a kg at Kottayam and Kochi against Rs 75.00 a kg on Thursday.

The rubber futures also explored new highs in all delivery contracts on the NMCE. The February contract has been traded at Rs 78.55 (Rs 76.90), March contract at Rs 80.09 (Rs 78.69), April contract at Rs 81.50 (Rs 79.98) and May contract at Rs 82.80 (Rs 81.11) per kg for RSS 4.

At Bangkok spot, RSS 3 was quoted better at Rs 85.43 against Rs 83.55 a kg. The February futures for RSS 3 improved by Rs 1.73 to 228.2 yen (Rs 87.57) from 223.7 yen a kg at TOCOM.

The spot prices per kg on Friday were: RSS-4: Rs 75.50 (Rs 75); RSS-5: Rs 73.50 (Rs 73); ungraded: Rs 72.50 (Rs 71.75); ISNR 20: Rs 73 (Rs 72.50) and latex 60 per cent: Rs 52.50 (Rs 52.50).

(This article was published in the Business Line print edition dated January 21, 2006)
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