Physical Rubber prices witnessed weakness on Friday due to low industrial demand, despite data showed India’s natural rubber consumption increased to a record high of 13.5 lakh tons in the 2022-23 financial year. Rubber prices weakened further on looming economic slowdown fears globally.
Spot prices for RSS-4 variety declined to Rs 156.50/ kg compared to its previous closing of Rs 157/ kg; while the RSS-5 variety fell to Rs 154/ kg compared to its previous closing of Rs 154.50/ kg.