Financial Daily from THE HINDU group of publications
Tuesday, Dec 31, 2002
Financial Daily from THE HINDU group of publications Tuesday, Dec 31, 2002 |
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Agri-Biz & Commodities
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Rubber Rubber stays firm at Rs 46.50-level Our Correspondent
KOTTAYAM, Dec. 30 rubberTHE rubber market on its march ahead reached the seasons highest peak at Rs 46.50 and continued to rule steady there on Monday without any signs of weakness. Arrivals did not strengthen even amidst reports of better harvests in plantations following favourable weather. The flow of latex has picked up with moderate improvement in dry rubber content. There is also widespread tapping in plantations as proof of better harvest, according to reports from the northern part of Kerala. Tapping in areas as Kulasekharam, Punalur etc has shown fairly good results. The buyers abstained from the market expecting a visible change in the price movement. The tyre majors also do not press for their quota, as they watch the trends hopefully before finalising the deals. Covering groups are still active though the general situation in the market remains the same with out any ups or drops. The market will have enough rubber shortly due to better harvest as producers also cannot afford to wait for long holding the stock indefinitely. Sheet rubber RSS 4 ruled at Rs 46 a kg on Monday while RSS 5 and ungraded rubber remained at Rs 42.50 and Rs 40 respectively. Block rubber ISNR 20 appeared flat at Rs 42 and latex 60 per cent at Rs 33.
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