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Rubber market remains quiet

Our Correspondent

KOTTAYAM, Oct. 29

EVEN afer resuming trade after a gap of four days, the rubber market remained quiet failing to pick up any momemtum. A section of the growers continued to stay away from the market with a resolve to make sales only at the notified price.

Manufacturing firms too kept away from major markets registering fewer deals between growers and dealers in village areas at Rs 30 per kg for RSS 4 and Rs 28 per kg for the ungraded.

The trading and processing companies in the RPS sector purchased RSS 5 at Rs 30.80 per kg, largely for supply to the Rubber Marketing Federation, which is making price support procurement at the instance of the Kerala Government.

The Rubber Board, in the meanwhile, is engaged in finalising an action plan for exporting centrifuge latex, through the recently-created export promotion cell. It has called for a meeting of the latex processors on Tuesday.

The board has offered to give subsidy at Rs 4.50 per kg for latex export. The current price of centrifuge latex in the world market is around Rs 20 per kg whereas it is available indigenously around Rs 24 per kg.

The processors have to undertake to supply latex concentrate of global standard at the current market for six months even if the market firms up in the near future.

On Monday, while RSS 4 was traded at Rs 30 a kg, RSS 5 was traded at Rs 30.80 a kg. Ungraded rubber was quoted at Rs 28 a kg. Block rubber was at Rs 29 a kg while latex 60 per cent was at Rs 25 a kg.