The Hindu Business Line : Rubber spurts on panic purchases

RUBBER prices spurted further on extremely low arrivals and entry of major consumers' purchase agents. Both the tyre sector and the non-tyre sector were making panic efforts to corner as much rubber as they could.

Traders and the covering group were also active. The market is in a buoyant mood and the traders do not think that the price will come down in the near future. Many major traders are keeping stock of the produce procured without making commitments to offers at the current ruling price.

Some of the large growers are also holding on to their stocks, responding to the current trend of prices moving up practically every day.

RSS 4 rose to Rs .46.50 on Wednesday against Rs 46 on Tuesday, RSS 5 to Rs 44.50 in place of Rs 44, ISNR 20 to Rs 44.25 against Rs 44. Latex concentrate increased to Rs 33.50 from Rs 33 and ungraded rubber to Rs 43.75 from Rs 43.50 per kg.

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