Agri Business

Rubber skids on buyer resistance

Our Correspondent Kottayam | Updated on November 08, 2012 Published on November 08, 2012

Domestic rubber prices turned weak on Thursday.

In spot, the commodity surrendered further on buyer resistance following the declines in the domestic and international futures.

There was no panic selling in the market, but it lost ground amidst scattered transactions.

The trend was partially mixed.

Sheet rubber weakened to Rs 174 (175) a kg both at Kottayam and Kochi, according to traders and the Rubber board.

In futures, the November series declined to Rs 173.95 (175.60), December to Rs 175.14 (177.31), January to Rs 177.49 (179.73), February to Rs 180.25 (182.65) and March to Rs 182 (184.25) a kg, while the April series remained inactive on the National Multi Commodity Exchange.

RSS 3 (spot) dropped to Rs 161.09 (163.85) a kg at Bangkok.

The November futures slid to ¥232.8 (Rs 158.76) from ¥239.3 a kg during the day session, but then remained inactive in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 174 (175); RSS-5: 170 (171); ungraded: 164 (165); ISNR 20: 159 (159) and latex 60 per cent: 109 (113.50).

Published on November 08, 2012
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