Physical Rubber prices showed weakness on Thursday, as speculators cut their bets amid buyer resistance in the markets. Further, lack of fresh enquiries from the tyre-makers too added pressure on commodity prices. Though, Parliamentary Standing Committee on Commerce recently recommended increase in production, marketing and exports of the commodity from northeast and non-traditional regions of India as they have the potential to become major hubs of rubber export, boosted investor sentiment and capped its fall.
Spot prices for RSS-4 variety declined to 138/ kg compared to its previous closing of Rs 140/ kg; while the RSS-5 variety fell to 134/ kg compared to its previous closing of Rs 135/ kg.