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Physical Rubber prices extend weakness on Friday

20 Aug 2022 Evaluate
Physical Rubber prices extended weakness on Friday due to mounting fears over potential recession in the global markets. Meanwhile, in order to meet the requirement of 15 lakh ton of natural rubber by 2025-26, there is an urgent need to increase the area under rubber cultivation, both to fulfil the domestic demand and restrict the outgo of foreign exchange through imports, Rubber Board Chairman said.

Spot prices for RSS-4 variety declined to Rs 162/ kg compared to its previous closing of Rs 163/ kg; while the RSS-5 variety fell to Rs 156/ kg compared to its previous closing of Rs 157/ kg.

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