Domestic rubber prices improved on Friday as the market reacted favourably to the Government’s procurement process that is still at the initial stage.
Meanwhile, natural rubber imports in February nearly doubled to 18,141 tonnes from a year ago as a sharp drop in international prices prompted tyre makers to increase overseas purchases, said Rubber Board.
Sheet rubber firmed up to ₹148.50 (₹146.50) a kg, as quoted by the traders. The grade increased to ₹148 (₹147) and ₹145 (₹144) respectively, according to the Rubber Board and dealers. The trend was partially mixed.
March futures improved to ₹147.55 (₹145.79), April to ₹153.01 (₹151.60), May to ₹156.40 (₹154.98), June to ₹158.50 (₹157.43) and July to ₹159.70 (₹156.57) while the August futures weakened to ₹157 (₹158.50) on the National Multi Commodity Exchange. RSS 3 (spot) closed firm at ₹141.02 (₹140.08) at Bangkok. March futures closed at ¥248.9 (₹149.91) on the Tokyo Commodity Exchange. Spot rubber rates (₹/kg) were: RSS-4: 148.50 (146.50); RSS-5: 145 (144); Ungraded: 143.50 (141.50); ISNR 20: 143 (142.50) and Latex 60%: 111 (112.50).
The Hindu
