Physical Rubber prices remained unchanged on Thursday due to weak demand outlook in the market. Meanwhile, inter-governmental organization Association of Natural Rubber Producing Countries (ANRPC) has cut its estimate for production of natural rubber in 2020 to 13.1 million tons from 13.4 million tons pegged a month ago. The association has also reduced its estimate for global natural rubber consumption to 12.9 million tons compared with 13.0 million tons pegged earlier. Spot prices for RSS-4 and RSS-5 variety closed unchanged at Rs 120/ kg and Rs 115/ kg respectively.
In the futures market, June delivery gained to Rs 120.60 compared to its previous closing of Rs 119.46, while July delivery was trading at Rs 124.55 compared to its previous close of Rs 122.19 on the Indian Commodity Exchange Limited (ICEX).
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