Rubber price increases

Physical rubber rates completed finished better in the weekend session. The absence of global guidance and a firm closing in domestic rubber futures kept the market marginally higher and sheet rubber closed at Rs 84.50 against Rs 84 a kg at Kottayam and Kochi. The futures market turned positive on May 12. The May contract for the grade improved to Rs 85.20 (84.30), June to Rs 87.29 (86.93), July to Rs 89.10 (88.85) and August contract to Rs 89.60 (89.46) per kg on NMCE. The open interest stood at 9,442 (10,152) tonnes with 3,384 (4,141) tonnes in May, 3,812 (3,787) tonnes in June, 1,746 (1,737) tonnes in July and 500 (487) tonnes in August on NMCE. Spot rates were (Rs/kg): RSS-4: 84.50 (84); RSS-5: 83.25 (83); Ungraded: 82.25 (82); ISNR 20: 83 (82.75) and Latex 60 per cent: 62.60 (62.60).