Agri Business

Spot rubber prices decline

| | Updated on: Feb 22, 2011
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Domestic rubber prices lost ground on Tuesday. In spot, the market fell following sharp declines on the National Multi Commodity Exchange. Reports from the trend setting Japanese markets were also disappointing though they ruled much higher than the Indian rates. According to observers, prices remained under pressure on moderate selling from dealers and growers.

Sheet rubber weakened to Rs 237 (240) a kg according to Dealers. The grade moved down to Rs 238 (240.50) a kg both at Kottayam and Kochi as per Rubber Board.

In futures, the March series nosedived to Rs 232.50 (242.18), April to Rs 241.62 (251.68), May to Rs 247.90 (257.62), June to Rs 252.99 (262.59) while and July to Rs 254 (263.06) a kg for RSS 4 on the NMCE.

The February futures for RSS 3 expired at ¥518.8 (Rs 283) a kg while the March futures declined to ¥522 (Rs 285.19) from ¥539 during the day session and then to ¥517.6 (Rs 282.74) a kg in the night session on the Tokyo Commodity Exchange. RSS 3 (spot) slipped to Rs 292.05 (292.98) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 237 (240); RSS-5: 230 (232); ungraded: 225 (228); ISNR 20: 238 (240) and latex 60 per cent: 146 (147).

Published on February 22, 2011

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