Rubber Price Increases

Kottayam: Spot rubber improved reacting to the Rubber Board Chairman's statement that the Board would protect the growers' interests. Sheet rubber RSS 4 regained to Rs 74.50 and Rs 75 a kg respectively at Kottayam and Kochi from Rs 73 a kg on short covering and fresh purchasing at lower levels. The domestic futures improved further quoting the August contract at Rs 78.50 (75.50) a kg for RSS 4 on MCX. The July contract for the grade went up to Rs 76.99 (74.03), August to Rs 77.87 (74.88), September to Rs 78.04 (75.04) and October to Rs 78.13 (75.13) per kg, while the volumes stood better 3,151 (2,737) lots on NMCE. The open interest was 6,934 (7,025) lots with 2,293 (2,420) lots in July, 2,623 (2,699) lots in August, 1,182 (1,102 ) lots in September and 836 (804) lots in October. Spot prices were (Rs/kg): RSS-4: Rs 74.50 (Rs 73); RSS-5: Rs 71.50 (Rs 70.50); Ungraded: Rs 69 (Rs 68); ISNR 20: Rs 71 (Rs 70.50) and Latex 60%: Rs 56.85 (Rs 55.80).