Better Climate Dampens Rubber Pricesn

Kottayam: Physical rubber prices surrendered further on Sept 27. A better turn in climate as there were no showers since around 48 hours has risen the expectations of an improvement in production in the weeks ahead. The domestic price levels were higher enough to attract profit booking from dealers and growers since they ruled above the international prices. RSS 4 declined to Rs 89 and Rs 89.50 from Rs 90 and Rs 90.50 a kg respectively at Kottayam and Kochi. The rubber futures showed a better trend on NMCE, while the October contract for RSS 4 finished almost unchanged at Rs 88.58 (88.59) a kg on MCX. The grade improved at its October futures to Rs 89.60 (88.78), November to Rs 86.50 (85.47), December to Rs 86.31 (85.31) and January to Rs 87.40 (86.35) per kg on NMCE. According to observers the market firmed up on supply concerns. Spot prices were (Rs/kg): RSS-4: 89 (90); RSS-5: 87 (87); ungraded: 84 (85); ISNR 20: 86 (86) and latex 60 per cent: 62.10 (62.10).