Agri Business

Moderate rise in rubber prices

Our Correspondent Kottayam | Updated on March 02, 2011

Rubber sheets being dried in the sunlight in Kerala. (file photo): K K Mustafah   -  Business Line

Spot rubber prices improved further on Wednesday.

Dmestic rubber futures market was closed on the National Multi Commodity Exchange owing to Maha Shivratri, the physical market made moderate gains on fresh buying and short covering. Traders seemed to be bullish in all counters as sellers stayed away expecting better rates in the days ahead.

Sheet rubber increased to Rs 227 (223.50) a kg, according to traders. The grade closed firm at Rs 226 (224) a kg both at Kottayam and Kochi, according to the Rubber Board.

RSS 3 (spot) slipped to Rs 274.71 (274.89) a kg at Bangkok. The March futures for the grade finished unchanged at ¥506.0 (Rs 277.79) a kg in the day session but remained inactive during the night session on the Tokyo Commodity Exchange.

Spot rates (RS/kg)were: RSS-4: 227 (223.50), RSS-5: 224 (221), Ungraded: 221 (218), ISNR 20: 224 (223)and Latex 60%: 140 (140).

Published on March 02, 2011

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