Kottayam, Jan. 24
Spot rubber showed a mixed trend on Monday. The market failed to react in tune with the global gains on buyer resistance. Though the sentiments were partially affected by a weak closing on the NMCE, certain grades ruled firm with marginal gains on comparatively better demand.
The argument about globalisation was that the farmers in India would get the same benefits as their counterparts in other countries. Now when the price goes up in favour of farmers, how could it be denied to them, asked Mr Joy Nadukkara, Ex. MP and President, Meenachil Rubber Marketing and Processing Cooperative Society Ltd.
The price in the international market still remains about Rs 25 a kg above the domestic price. It is true that higher the prices, more are the reverses which would harm the industry in the long run. But attempts to deny higher prices to the farmers could not be justified under any circumstances, he said.
Sheet rubber closed flat at Rs 235 a kg according to traders. The grade firmed up to Rs 235 (234) a kg both at Kottayam and Kochi as per Rubber Board. RSS 4 declined at its February series to Rs 235.05 (239.21), March to Rs 241.21 (245.29), April to Rs 249.11 (253.24) and May to Rs 254.70 (259.52) a kg on the National Multi Commodity Exchange (NMCE).
RSS 3 (spot) improved to Rs 266.61 (261.87) a kg at Bangkok. The January futures for the grade moved up to ¥483.2 (Rs 266.06) from ¥476.5 a kg during the day session and then to ¥484 (Rs 266.58) in the night session on the Tokyo Commodity Exchange (TOCOM). Spot rates were (Rs/kg): RSS-4: 235 (235); RSS-5: 226 (225); ungraded: 220 (220); ISNR 20: 227 (226) and latex 60 per cent: 155 (155).
(Source: http://www.blonnet.com/2011/01/25/stories/2011012552012000.htm)
No comments:
Post a Comment