Rubbers Price Declines On Global Futures

Kottayam: The domestic rubber prices fell catalysed by weak global futures mainly TOCOM. The trendsetter lost heavily hitting the daily downward limit of 10 yen in all contracts following yen's sharp climb against dollar and falls in global stock and commodity markets. The September futures for RSS 3 nosedived to 232.9 Yen (Rs 85.11) a kg from 242.9 Yen a kg at TOCOM. On the physical front, RSS 4 fell to Rs 80.75 and Rs 81 a kg respectively at Kottayam and Kochi from Rs 83 a kg on Aug 16. In futures, the September contract fell to Rs 80.81 (82.36) a kg on MCX. On NMCE, the September contract weakened to Rs 80.87 (81.56), October to Rs 79 (79.54), November to Rs 78.60 (78.68) and December contract to Rs 78 (78.48) per kg for RSS 4. Spot rubber were (Rs/kg): RSS-4: 80.75 (83); RSS-5: 77 (78.50); ungraded: 74.50 (76); ISNR 20: 77.50 (78.75) and latex 60 per cent: 58.95 (58.95).