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Physical Rubber prices witness weakness on Thursday

04 Sep 2020 Evaluate

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.

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