Physical Rubber prices witness strength on Wednesday

Physical Rubber prices witnessed strength on Wednesday tracking the higher rubber prices globally. Data showed 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. Meanwhile, the Indian Rubber Board is officially launched the beta version of mRube, the e-trading platform for natural rubber to improve the marketing efficacy of supply chain.

Spot prices for RSS-4 variety rose to Rs 176.50/ kg compared to its previous closing of Rs 176/ kg; while the RSS-5 variety gained to Rs 174/ kg compared to its previous closing of Rs 173.50/ kg.

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