Saturday, January 8, 2011

Will NR prices touch triple two figure?

India's NR output in December edged up by 0.6% to 1,01,500 tonnes as favourable weather condition allowed farmers to increase tapping. As weather is very favourable for tapping, in January 2011 NR production would be higher than the same period of previous year.

Prices of natural rubber surged to a record Rs 214.50 per kg in the domestic markets on fall in arrivals and international prices of rubber touching new highs of Rs. 239.87 on 7th January 2011.

The NR prices are further expected to go up as forecasted by Rubber4U during IRC 2010, which is expected to touch Rs. 222/- per kg.

There is a decline in arrivals of natural rubber in the domestic market, as farmers are reluctant to sell their produce on expectations of further rise in prices, as international prices of natural rubber are now ruling at around Rs 239.50 per kg, a clear gap of Rs. 15/- per kg.

Read lot more in Rubber4U – 15th January 2011 issue

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