Spot rubber drops to Rs 125/ kg

Print this page Posted on : 05-31-2008 by recycleinme.com

The physical rubber prices fell sharply as the Japanese futures nosedived following widespread selling pressure catalysed by the declines in oil futures. The market moved down deeper in to the minus territory quoting RSS 4 at Rs 125 against Rs 129.50 a kg on panic selling from dealers and small traders. The market made all- round declines and it was difficult to identify quantity buyers even at lower levels. “ The rubber prices should be reasonable for all stake holders in the industry including the consumers’’, said Adv. Siby . J. Monippally, General Secretary, Indian Rubber Growers Association .

EXPORT OPTIONS

“ The international and domestic prices of natural rubber are almost similar. Hence the export possibility has comedown and therefore the growers should not hold rubber on the assumption that the rubber prices would further flare- up,’’ said Mr Sajen Peter, Chairman Rubber Board. RSS 3 fell sharply at its June futures to ¥ 312.2 ( Rs 125.85) from ¥ 329.9, July to ¥ 313.5 ( 327.7), August to ¥ 315.2 ( 329), September to ¥ 315.3 ( 330.4), October to ¥ 315 ( 330.2) and November to ¥ 317.9 ( 332.5) a kg at TOCOM. RSS 3 spot weakened to Rs 136.64 ( 137.64) a kg at Bangkok. pot prices were ( Rs/ kg): RSS- 4: 125 ( 129.50); RSS- 5: 121 ( 124.50); ungraded: 114 ( 119.50); ISNR 20: 118 ( 120.50) and latex 60 per cent: 82 ( 82).

Source : Business Line