Agri Business

Mixed trend in rubber

Aravindan Kottayam | Updated on February 07, 2011 Published on February 07, 2011

Physical rubber prices showed a mixed trend on Monday. The under current was weak as sheet rubber slipped to Rs 237 (238) a kg both at Kottayam and Kochi, according to Dealers and Rubber Board. Meanwhile, RSS 5 finished flat but ISNR 20 improved marginally on comparatively better demand.

According to observers, there were no quantity sellers or buyers on either side but the market lost ground amidst scattered transactions following the declines on the NMCE. The volumes were narrow. Among other reports, certain tyre makers bought natural rubber at a record Rs 240 a kg on last Friday. In fact NR closed weak at Rs 238 a kg on the same day.

RSS 4 weakened at its February series to Rs 236.50 (238.14), March to Rs 241.65 (243.72), April to Rs 250.61 (252.63) and May to Rs 254 (256.88) a kg on the National Multi Commodity Exchange.

The February futures for RSS 3 declined to ¥498.7 (Rs 275.32) from ¥504.7 during the day session but then recovered to ¥503.1 (Rs 277.75) a kg in the night session on the Tokyo Commodity Exchange. The grade (spot) closed at Rs 272.82 (272.34) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 237 (238); RSS-5: 227 (227); ungraded: 221 (223); ISNR 20: 231 (230) and latex 60 per cent: 152 (152).

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Published on February 07, 2011
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