Date:16/12/2005 URL: http://www.thehindubusinessline.com/2005/12/16/stories/2005121600450900.htm

Back Rubber falls on panic selling

Our Correspondent

Kottayam , Dec. 15

A CRASH in international markets hammered the domestic spot rubber prices on Thursday. Panic selling from dealers and growers kept the prices under immense pressure, while most of the buyers preferred to stay on the sidelines.

NMCE rubber futures followed suit with January contract quoting at Rs 68.30 (69.28), February at Rs 69.60 (Rs 70.63) and March at Rs 70.45 (71.54) a kg for RSS 4. The same grade was traded at Rs 68.50 against Rs 69.59 a kg for January delivery on MCX. The January futures for RSS 3 crashed to 190.8 yen from 199.8 yen a kg at Tocom.

Physical prices a kg were: RSS-4 Rs 67.75 (Rs 69); RSS-5: Rs 65.50 (Rs 67); ungraded: Rs 64 (Rs 66); ISNR 20: Rs 65.50 (Rs 67.25); and latex 60%: Rs 48.50 (Rs 49).