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Rubber dips on sales

Our Correspondent

Kottayam , Nov 18

MODERATE selling from dealers and growers hammered spot rubber rates on Friday. Arrivals continued to improve followed by accelerated production and tapping.

Most of the buyers, including North Indians and exporters, preferred to keep off waiting for the prices to stabilise at lower levels. RSS 4 fell to Rs 64.25 and Rs 64.00 a kg respectively at Kottayam and Kochi from Rs 65.00 a kg while all major grades except latex lost on improved offers.

The declining overseas markets put further pressure on NMCE rubber futures. The December contract was quoted at Rs 63.50 (64.26), January at Rs 63.85 (64.36), February at Rs 64.71 (65.04) and March at Rs 65.25 (65.37) per kg for RSS 4. The volumes totalled 1,241 lots, with 772 lots in November, 403 lots in December, 51 lots in January and 15 lots in February till midday.

The December contract for RSS 4 fell to Rs 63.71 from 64.18 a kg in MCX.

RSS 3 continued to rule steady at Rs 72.71 a kg at Bangkok. The December futures for RSS 3 declined sharply to 184.7 Yen from 187.1 Yen at TOCOM.

The per kg spot rubber prices were: RSS-4: Rs 64.25 (65); RSS-5: Rs 62 (62.50); ungraded: Rs 59 (60); ISNR 20: Rs 62.50 (63.00), and latex 60%: Rs 44 (44).

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