Agri Business

Spot rubber saps on global cues

Our Correspondent Kottayam | Updated on October 12, 2012 Published on October 12, 2012

Rubber prices slipped further on Friday. The overall weakness in the commodity and the wide gap between the domestic and global quotes were the critical factors which took the local market to lower levels. According to observers, there was not much improvement in arrivals as the weather is still unfavourable for production even after the resumption of tapping in most plantation areas.

Sheet rubber declined to Rs 188 (189) a kg, according to traders. The grade closed weak at Rs 188.50 (189) a kg at Kottayam and Kochi, as reported by the Rubber Board.

The October series slipped to Rs 190.50 (190.98), November to Rs 185.40 (185.96), December to Rs 184.26 (184.90), January to Rs 186 (186.16) and February to Rs 186.55 (188.39) a kg, while the most distant March series remained inactive on the National Multi Commodity Exchange.

RSS 3 (spot) dropped to Rs 173.62 (174.46) a kg at Bangkok. The October futures weakened to ¥257.5 (Rs 173.42) from ¥259.7 a kg during the day session and then to ¥252.6 (Rs 170.16) in the night session on the Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 188 (189); RSS-5: 180 (182); ungraded: 173 (174); ISNR 20: 170 (171) and latex 60 per cent: 123 (123.50).

Published on October 12, 2012
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