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India: Spot rubber flares up as sellers stay away

February 17, 2014:  

Domestic rubber prices flared up further on Monday. According to reports, the Kerala Cabinet meeting scheduled for Wednesday will take a decision regarding the implementation of the rubber procurement. The market expects the process to commence immediately following this and hence, there were no sellers in the market even at higher levels.

Sheet rubber flared up Rs156 (Rs152) a kg, according to traders. The grade firmed up to Rs154 (Rs151) and Rs151 (Rs148) respectively, according to the Rubber Board and dealers.

The March futures improved to Rs157.80 (Rs154.16), April to Rs162.30 (Rs158.08), May to Rs164.75 (Rs160.48), June to Rs166.09 (Rs161.78) and July to Rs164.99 (Rs163) on the National Multi Commodity Exchange. RSS 3 (spot) closed firm at Rs135.35 (Rs133.73) at Bangkok. February futures closed at ¥ 230.0 (Rs139.62) on the Tokyo Commodity Exchange. Spot rubber rates (Rs/kgRSS-4: 156 (152); RSS-5: 153 (149); Ungraded: 150 (146); ISNR 20: 151 (146) and Latex 60%: 122 (120.50).

 The Hindu

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