Financial Daily from THE HINDU group of publications
Thursday, Jun 12, 2003
Financial Daily from THE HINDU group of publications Thursday, Jun 12, 2003 |
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Agri-Biz & Commodities
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Rubber Rubber market rules weak A Correspondent
KOTTAYAM, June 11 MAJOR buyers and traders including the covering group are keeping off the market. All the grades except latex concentrate made losses. Trading continued to be thin. Arrivals to the market appeared generally better. The continuous absence of buyers is putting pressure on the growers who are in need of immediate cash. Latex market remained steady as major processors were not prepared to sell latex below the current market, but there was hardly any transaction. The manufacturers complained that largescale smuggling in rubber, reported from the Kerala border, would harm the industry. The futures market also weakened on Wednesday. The July delivery was traded at Rs 50.90 and August delivery at Rs 50.95 against Rs 51.15 and Rs 51.10 respectively. The spot market rates per kg on Wednesday were RSS 4 - Rs 49.25 (Rs 49.50); RSS 5 - Rs 48.25 (Rs 48.50); Ungraded rubber - Rs 47.00 (Rs 47.50); ISNR 20 - Rs 48.25 (Rs 48.50); Latex concentrate - Rs 38.00 (Rs 38.00).
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