Wednesday, December 4, 2013

Feeling the pinch

The growers started to feel the pinch, as downward trend in the domestic rubber prices continued due to lack demand and over supply. The growers feels that the prices will slide southward in the coming months. Currently domestic prices are ruling below the international prices. According to the growers another `.5-10 fall from the current level will hit them badly, hence they were demanding for an increase in the import duty on natural rubber.

It is estimated that an upward trend can be expected from mid January 2014.

RSS4 grade closed at `.152 a kg at Kottayam, while National Multi Commodity Exchange December futures closed at `.152.81 a kg, January 2014 at `.154.81, February at `.157.19 and March at `.162.39 a kg. RSS3 grade closed at `.159.14 a kg at Bangkok and Malaysian SMR20 closed at `.145.17 a kg. Tokyo Commodity Exchange, December futures series closed at ¥262 a kg, January 2014 at ¥266, February at ¥268.1, March at ¥269.6, April at ¥272.3 and the contract for delivery in May 2014 at ¥274.5 a kg.

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