The stunning fact that surfaced in recent times, price of rubber hit an all-time high of Rs 13,500 per quintal at Kottayam spot market in Kerala on Tuesday following a rise in crude oil prices and firm global market.

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The stunning fact that surfaced in recent times, price of rubber hit an all-time high of Rs 13,500 per quintal at Kottayam spot market in Kerala on Tuesday following a rise in crude oil prices and firm global market. Crude oil surged sharply by 1.1 per cent to 133.65 dollars a barrel, while rubber prices at Bangkok were ruling firm at Rs 13,621 per quintal.

"With crude oil getting expensive, processing cost of rubber is also going higher. Global factors are also influencing domestic price movement," an analyst with Karvy Comtrade said.

Rubber was suspended from futures trading on May 7 to contain inflation. Since it was banned, prices have risen by 12.95 per cent, according to Rubber Board data.

At Kottayam, RSS 4 grade rubber went up by 1.12 per cent to Rs 13,500 per quintal, RSS 5 rose by 1.92 per cent to Rs 13,250 per quintal while latex was up by 2.49 per cent to 8,630 per quintal. Prices of RSS 4 and RSS 5 grades at Cochin market stood at Rs 13,450 per quintal and Rs 13,200 per quintal respectively. Prices at Cochin were marginally lower than Kottayam. Rubber was trading firm in Bangkok following huge demand from tyre industry. RSS 4 rose by 1.41 per cent to Rs 13,581 per quintal and RSS 5 by 1.42 per cent to Rs 13,521 per quintal.