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Tuesday, Jun 14, 2005

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Rubber prices fall on dull sentiments

Our Correspondent

Kottayam , June 13

RUBBER prices declined on Monday. According to sources, unfavourable overseas reports and dull sentiments due to weak monsoon led to decline in the prices in the absence of major buyers.

Though moderate tapping is still reported from the plantations, arrivals to the main marketing centres are low. Most of the growers and stockists are holding on to their stocks to sell at peak prices in July. After hitting an intra-day low at Rs 62 a kg in the morning session, RSS 4 closed at Rs 62.25, both at Kottayam and Kochi against Rs 62.50 on Saturday.

The futures market weakened further except June, which was traded slightly better at Rs 61.49 (Rs 61.32) a kg. The July contract was quoted at Rs 63.69 (Rs 63.83), August contract at Rs 62.13 (Rs 62.22) and September contract at Rs 59.49 (Rs 59.50) per kg for RSS 4.The volumes were moderate in July futures trading 337 lots till mid session.

At Bangkok RSS 3 moved up to Rs 53.88 from Rs 63.56 a kg.

Physical rubber prices a kg were: RSS-4: Rs 62.25 (Rs 62.50) RSS-5: Rs 60.00(Rs 61.00) ungraded: Rs 58.00(Rs 58.75) ISNR 20: Rs 57.50 (Rs 57.75) and latex 60 per cent: Rs 40.50(Rs 40.50)

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