Financial Daily from THE HINDU group of publications
Saturday, Jan 19, 2002
Financial Daily from THE HINDU group of publications Saturday, Jan 19, 2002 |
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Agri-Biz & Commodities
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Rubber Rubber rises on supply crunch Our Correspondent
KOTTAYAM, Jan. 18 RUBBER market firmed up further on Friday with almost all the grades barring latex rising due to supply crunch. With international price in rubber rising to Rs 27.75 per kg (57.70 cents per kg) for RSS 3 imported into India in place of RSS 4, imports have become uneconomical. Buyers from the tyre sector as well as the general rubber goods sector have come forward to pay more for indigenous rubber. The price has gone up by Rs 2 per kg in a couple of days' time for RSS 4 as traders, eager to fulfil commitments, offered better rates than the prevailing market to attract supply in covering purchases. RSS 4 soared to Rs 28.00 per kg compared to Rs 27.50 on Thursday. While RSS 5 improved to Rs 26.00 per kg from Rs 25.25, block rubber ISNR 20 touched Rs 26.00 per kg against Rs 25.50. Ungraded rubber further firmed up to Rs 25.25 from Rs 25.00. However, latex 60 per cent was static around Rs 28.00 per kg.
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