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Physical Rubber prices witness firmness on Wednesday

14 Nov 2019 Evaluate

Physical Rubber prices showed firmness on Wednesday, supported by rising demand from domestic stockists against lower arrivals in the market. Rubber prices improved further by tracking anticipated rise in global prices due to heavy natural rubber output fall in major producing country may curb its import to India. The International Tripartite Rubber Council, which represents Thailand, Indonesia and Malaysia, said output may fall by 800,000 tonne this year owing to a fungal disease in growing regions. Spot prices for RSS-4 variety gained to 129/ kg compared to its previous closing of Rs 127.50/ kg; while the RSS-5 variety jumped to 126/ kg compared to its previous closing of Rs 125/ kg.

In the futures market, December delivery fell to Rs 129 compared to its previous closing of Rs 129.54, while January delivery was at Rs 131 compared to its previous close of Rs 131.89 on the Indian Commodity Exchange Limited (ICEX).

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