New Delhi, Mar 17 (PTI) Continuing upward trend for the third day in a row, natural rubber (NR) prices today jumped Rs 14 per kg to Rs 215 in the domestic spot market on firm cues from the international market.
Prices of natural rubber were ruling at at Rs 201 per kg yesterday, the Rubber Board data showed.
"Spot prices are increasing here taking cues from the Tokyo Commodity Exchange (TOCOM), where natural rubber is trading on a positive direction," Indian Rubber Dealers Association President George Valy told PTI.
The spot prices also took firm indication from the domestic commodity exchange NMCE, where natural rubber prices were trading upward following a rise in global prices,he said.
In Bangkok, NR spot prices were up Rs 3.89 at Rs 208.51 per kg against Rs 204.62 yesterday.
Global NR prices have been rising for last two days fears of shortages in view of rising demand, analysts said.
In the first 11 months of the current fiscal, natural rubber production in the country increased 3 per cent to 8.04 lakh tonnes, the official data showed.
(Source: http://in.news.yahoo.com/natural-rubber-prices-rise-3rd-straight-day-rs-20110317-065500-420.html)
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