KOTTAYAM, APRIL 16:
The rubber market declined on Tuesday.
The prices fell further in the local markets tracking the overall weakness in the domestic and international futures.
Selling from certain dealers and the absence of genuine buyers kept the commodity under pressure during the day.
The volumes were dull.
Meanwhile, the Tokyo rubber futures fell extending the previous session’s six per cent decline to a five-month low as renewed worries over the global economy initiated selling in commodities and stocks
In spot, sheet rubber weakened to Rs 162 (163) a kg, according to traders.
The grade slid to Rs 162.50 (163.50) a kg both at Kottayam and Kochi as reported by the Rubber Board.
In futures, the May series improved to Rs 159.30 (158.83) and June to Rs 158 (157.31) a kg while the July series dropped to Rs 157.20 (157.70) and August to Rs 156.25 (157.17) on the National Multi Commodity Exchange (NMCE).
RSS 3 declined at its April futures to ¥248 (Rs 137.33) from ¥248 a kg during the day session but then remained inactive in the night session on the Tokyo Commodity Exchange.
Spot rubber rates (Rs/kg): RSS-4: 162 (163); RSS-5: 158 (160); Ungraded: 153 (155); ISNR 20: 151 (151) and Latex 60 per cent: 107 (108).
SourceL Business Line
