Financial Daily from THE HINDU group of publications
Thursday, Oct 24, 2002
Financial Daily from THE HINDU group of publications Thursday, Oct 24, 2002 |
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Agri-Biz & Commodities
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Rubber Rubber stagnant Our Correspondent
KOTTAYAM, Oct. 23 RUBBER prices were stagnant again on Wednesday on weak demand though supply strengthened on fresh arrivals from individual growers and small traders operating in village marketing centres. Purchase in low volumes continued as buyers consisting of non-tyre sections and other rubber goods manufacturers were reluctant to finalise the deals at the prevailing prices on the expectation that prices would again decline. Meanwhile, the international price dipped further to Rs 38.78 on Wednesday from Rs 38.97 on the previous day. The price has been consistently falling for the last few weeks due to enormous stock in the international market.The difference between Indian and global prices has narrowed down and the traders are afraid whether both the prices would touch the same level.Sheet rubber RSS-4 was traded at Rs 36 per kg and RSS-5 at Rs 35. Latex 60 per cent and ungraded rubber remained steady at Rs 29 and Rs 33 respectively. Block rubber ISNR-20 slipped to Rs 33.50 from Rs 34 on Tuesday.
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