KOTTAYAM, DEC. 4:
Spot rubber continued to rule weak on Wednesday.
The local markets opened on a steady note tracking the firm opening on the National Multi Commodity Exchange but a decline later in the day put prices under pressure.
The news that the Finance Ministry is opposed to the proposal for hiking import duty on natural rubber to 20 per cent dampened the sentiment further.
Most traders panicked as the commodity is now expected to fall below the Rs 150 a kg level shortly.
Sheet rubber declined to Rs 151 (153) a kg, according to traders. The grade was quoted weak at Rs 152 (153) and Rs 149 (150) respectively by the Rubber Board and dealers.
December futures weakened to Rs 151.81 (152.81), January to Rs 153.80 (154.81) February to Rs 156.25 (157.19) and March to Rs 159 (162.39) a kg on the National Multi Commodity Exchange.
RSS 3 (spot) improved to Rs 159.14 (158.86) a kg at Bangkok.
The December futures slid to ¥267 (Rs 161.65) from ¥267.5 a kg on the Tokyo Commodity Exchange.
Spot rubber rates (Rs/kg)were: RSS-4: 151 (153); RSS-5: 142 (143); Ungraded: 138 (140); ISNR 20: 144 (144.50) and Latex 60 per cent: 107 (107).
India’s Rubber Prices on December 4, 2013
Arrivals in tonnes;prices in Rs/quintal in domestic market.
|
|
Arrivals |
Price |
||||
|
|
Current |
% |
Season |
Modal |
Prev. |
Prev.Yr |
|
change |
cumulative |
Modal |
%change |
|||
|
Rubber |
||||||
|
Palitana(Raj) |
250 |
56.25 |
13340 |
3050 |
3250 |
– |
|
Udaipura(Raj) |
42 |
-50 |
15112.4 |
3125 |
3125 |
-13.91 |
|
Muzzafarnagar(UP) |
28.5 |
14 |
9995 |
3200 |
3200 |
-12.33 |
|
Bermo(Jha) |
4 |
NC |
172 |
3300 |
3300 |
3.13 |
|
Sultan bathery(Ker) |
|
|
|
|
|
|
Source: The Hindu
