Physical Rubber prices witnessed weakness on Monday due to economic growth concerns following interest rate hikes by central banks globally. Although, some losses were capped by reports that the global natural rubber market size was $22360 million in 2020 and it is expected to reach $26350 million by the end of 2027, with a CAGR of 2.4% during 2021-2027.
Spot prices for RSS-4 variety declined to Rs 174/ kg compared to its previous closing of Rs 174.50/ kg; while the RSS-5 variety fell to Rs 171.50/ kg compared to its previous closing of Rs 172.50/ kg.
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