Record price for Natural Rubber

Kottayam, May 20: Domestic market price of Natural Rubber touched a record Rs 10,000 per quintal (Rs 100 per KG) for RSS 4 grade.

The domestic market price has been increasing in tandem with the international price. The price in the domestic market set an all time high of Rs 100 per KG today. The production is picking up following intermittent rain and favourable climate. The week witnessed a rise of Rs five a Kg. The opening rate on Monday (May 15) was Rs 95.50 for RSS 4 grade and Rs 93.25 for RSS 5 grade.

Futures price also witnessed an upward trend and July delivery was quoted Rs 103.40 for RSS 4 grade.

Rubber dealers Federation President George Valey opined that the domestic price would go up or down on the basis of the international price. The international price increased by Rs 13 per Kg in five days due to speculative buying. The Bangkok rate was Rs 113.04.

The price in the domestic market would go up or down next week depending on the international trend and the possibility on the basis of the present indication was to go up, he said.

UNI