Spot rubber rules steady

Spot rubber rules steady


Kottayam, July 31

Spot rubber closed almost steady on Saturday.

The market was rather inactive and calm as most of the traders preferred to stay back during the weekend session.

Sheet rubber finished flat at Rs 185 a kg while the trend was mixed as ungraded rubber slipped marginally on comparatively low demand.

Futures improve

RSS 4 improved at its August series to Rs 185.33 (183.83), September to Rs 170.30 (168.75), October to Rs 161.25 (160.45) and November to Rs 160.95 (160.33) a kg on National Multi Commodity Exchange (NMCE). The volumes totalled 2422 lots and turnover 42.83 crores.

The total open interest in all series was 5829 lots.

Spot rates

Spot rates were: RSS-4: 185 (185); RSS-5: 179 (179); ungraded: 169 (169.50); ISNR 20: 157 (157) and latex 60 per cent: 110 (110).




India Monsoon Shortfall Narrows to 3%, Weather Bureau Says
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By Thomas Kutyy Abraham

Aug. 2 (Bloomberg) -- The shortfall in India’s monsoon, the main source of irrigation for the nation’s 235 million farmers, narrowed to 3 percent as of yesterday, the weather office said.

The nation received 451.8 millimeters of rain in the June 1-Aug. 1 period, compared with the 50-year average of 465.4 millimeters, the India Meteorological Department said on its website. The monsoon was 16 percent below normal in June.

Rainfall is 1 percent above average in northwest India, including Uttar Pradesh, and normal in central states including Madhya Pradesh, the agency said. Madhya Pradesh is India’s biggest soybean growing province, while Uttar Pradesh is the nation’s biggest sugar cane grower.

Rainfall is 16 percent above average in south Indian states, including the main coffee and rubber growing states, and 21 percent below normal in the northeastern states, which mainly grows rice and tea, the agency said.