Positive move

Rubber prices on SICOM exchange are trading close to their weakest level, while Indonesia's SIR20 is trading around its lowest in five years. The International Rubber Consortium (IRCo) has recommended its members not to sell natural rubber at the current low level prices. IRCo is of opinion that current prices are unreasonably low and would advise its member countries to jointly encourage their respective association members not to offer natural rubber at prevailing low prices. Today most of the market closed with a positive note.

The benchmark RSS3 grade closed at `.131.11 a kg at Bangkok, while Malaysian SMR20 closed at `.117.78 a kg. On Tokyo Commodity Exchange, February 2014 futures series closed at ¥222 a kg, March at ¥222.7, April at ¥223.9, May at ¥226.6, June at ¥228.1 and the contract for delivery in July 2014 closed at ¥228.2 a kg. While on National Multi Commodity Exchange, February 2014 futures trading at `.147.01 a kg, March at `.150.01, April at `.154.10, May at `.156.01 and June at `.155.30 a kg, at 14.00 IST.

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