KOTTAYAM, MARCH 16:
Rubber prices continued to recover from the recent losses on Wednesday. The physical market strengthened followed by the sharp gains on the NMCE and TOCOM. The report that the disaster and subsequent nuclear plant meltdowns and explosions in Japan do not have significant impact on rubber demand from the country had a positive impact on the global markets.
Hence the domestic prices firmed up on fresh buying and short covering as sellers stayed back expecting market to recover in the days ahead. The disaster is unlikely to have a noticeable impact on global economy also according to the Association of Natural Rubber Producing Countries (ANRPC).
In spot, sheet rubber improved to Rs 202 (187.50) a kg according to traders. The grade firmed up to Rs 201 (187) a kg as reported by the Rubber Board.
In futures, the April series flared up hitting the upper circuit at Rs 213.92 (205.70), May at Rs 219.14 (210.72), June at Rs 225.24 (216.58) and July at Rs 226.74 (218.02) a kg for RSS 4 on the National Multi Commodity Exchange (NMCE).
RSS 3 (spot) closed firm at Rs 204.62 (201.38) a kg at Bangkok. The March futures for the grade bounced back to ¥383.5 (Rs 214.50) from ¥361 a kg during the day session and then to ¥395 (Rs 220.92) in the night session on the Tokyo Commodity Exchange (TOCOM). Spot rates were (Rs/kg): RSS-4: 202 (187.50); RSS-5: 199 (184); ungraded: 194 (180); ISNR 20: 198 (183) and latex 60 per cent: 115 (115).
(Source: http://www.thehindubusinessline.com/industry-and-economy/agri-biz/article1544264.ece)
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