Financial Daily from THE HINDU group of publications
Friday, Aug 29, 2003
Financial Daily from THE HINDU group of publications Friday, Aug 29, 2003 |
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Agri-Biz & Commodities
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Rubber Buyer resistance trips rubber Our Correspondent
Kottayam , Aug. 28 RUBBER rates declined on Thursday shedding Wednesday's gains. All the grades fell on buyer resistance along with all-round selling pressure. RSS 4 closed at Rs 48 against Rs 48.25 per kg as on Wednesday. The world market remained flat at Rs 48.56 for RSS 3. The sunny days have set in signalling the beginning of the tapping season and the pleasant favourable climate is expected to boost the inflow of the raw material in the weeks ahead. Anticipating an improvement in the supply position, traders became sellers while the buyers started moving back. The futures market followed the weak trend on Thursday quoting the September delivery at Rs 48, October delivery at Rs 46.90, November delivery at Rs 46.95 and December delivery at Rs 46.80 per kg for RSS 4. The market opened steady but weakened further on fresh selling. The Thursday spot market rates per kg follows: RSS 4 48.00 (48.25), RSS 5 45.75 (46.00), ungraded 44.00 (44.25), ISNR 20 45.50 (45.75) and latex 60 per cent 34.50 (35.00).
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