Physical Rubber prices witnessed strength on Tuesday amidst a severe shortage of domestic natural rubber. Adverse weather conditions have resulted in the production loss of natural rubber as heavy rains caused a significant reduction in tapping days, especially in the traditional areas and many growers could not rain-guard trees on time, said Rubber Board Executive Director. Meanwhile, growing expectations of deeper interest rate cuts by the US Federal Reserve starting from September, also supported sentiments.
Spot prices for RSS-4 variety gained at Rs 238/ kg compared to its previous closing of Rs 235/ kg; while the RSS-5 variety rose at Rs 233/ kg compared to its previous closing of Rs 230/ kg.
