Financial Daily from THE HINDU group of publications
Friday, Apr 29, 2005
Financial Daily from THE HINDU group of publications Friday, Apr 29, 2005 |
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Agri-Biz & Commodities
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Rubber All rubber grades slip on buyer resistance Our Correspondent
Kottayam , April 28 SPOT rubber rates on Thursday surrendered slightly, again led by unfavourable overseas reports. Traders and growers preferred to reduce their holdings in the absence of a clear trend. The covering groups were inactive at higher levels, allowing the prices to cool down. All major grades lost on buyer resistance while Sheet rubber closed weak at Rs 59.50 a kg both at Kottayam and Kochi against Rs 59.75 and Rs 60 respectively. The futures market also moved down quoting the May contract at Rs 59.51 a kg (60.04), June at Rs 61.40 (61.97), July at Rs 62.40 (62.97), and August at Rs 62 (62.32) for RSS 4. According to sources, the traders were in a selling mood throughout the session and volumes were moderate. At Bangkok, RSS 3 declined to Rs 57.04 from Rs 57.61 a kg. The same grade closed at 138.1 yen against 140.3 yen at TOCOM. The spot market rates a kg on Thursday were as follows: RSS-4 59.50 (59.75), RSS-5 58.50 (58.75), ungraded 58 (58.25), ISNR 20 58 (58.25), and latex 60% 39.50 (40).
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