Date:17/08/2007 URL: http://www.thehindubusinessline.com/2007/08/17/stories/2007081752321200.htm

Back Spot rubber declines further

Aravindan

Kottayam, Aug. 16 Spot rubber declined further on Thursday. The resumption of tapping in major plantation areas to exploit the favourable turn in climate has already initiated a selling pressure in major marketing centres.

Dealers and growers who held the stocks started selling even at lower levels, while the consuming sector kept a low profile to accelerate the fall. RSS 4 moved down to Rs 83 from Rs 85 and Rs 86 a kg respectively at Kottayam and Kochi on Tuesday.

Futures weak

The rubber futures resumed the downward journey on NMCE. The near month September contract weakened to Rs 81.52 (82.31), October to Rs 79.43 (80.01), and November to Rs 78.63 (79.03) a kg, while the December contract finished the début performance at Rs 78.59 a kg against its opening at Rs 78 a kg for RSS 4. The September contract moved down to Rs 82.30 from Rs 82.71 a kg on MCX.

Spot prices were (Rs/kg): RSS-4: 83 (85); RSS-5: 78.50 (82); ungraded: 76 (79); ISNR 20: 78.75 (82) and latex 60 per cent: 58.95 (58.95).