Physical rubber prices made a glorious rebound on Thursday. The market moved up on strong demand following sharp gains in international and domestic futures mainly the Tokyo Commodities Exchange (TOCOM). According to observers, prices are set to break previous records to create another historic high shortly.

Sheet rubber flared up to Rs 235 (228) a kg, according to market circles. The grade increased to Rs 232 (226.50) a kg both at Kottayam and Kochi, said the Rubber Board.

Though Indian rubber growers do not get the international price on par with their counterparts in other countries, they could export rubber with the help of cooperative societies and escape exploitation of certain business lobbies, said Mr Joshua Daniel, a small grower in Konni, Pathanamthitta, Kerala. The Government also should act to end this discrimination to the producing sector, he appealed.

RSS 4 increased sharply at the February series to Rs 239.05 (231.61), March to Rs 245.25 (236.32), April to Rs 254.38 (246.40) and May to Rs 259.10 (252.78) a kg on the National Multi Commodity Exchange.

The February futures jumped up to ¥495 (Rs 276.28) from ¥480.5 a kg during the day and then to ¥502 (Rs 280.19) in the night session on the TOCOM. RSS 3 (spot) closed firm at Rs 267.71 (265.21) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 235 (228); RSS-5: 225 (219); ungraded: 220 (214); ISNR 20: 227 (222) and latex 60 per cent: 151 (150).

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