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Physical Rubber prices decline on Thursday

15 Nov 2024 Evaluate
Physical Rubber prices declined on Thursday amidst sluggish demand from industrial consumers as China’s latest stimulus package left investors disappointed across global markets. However, shortage in the domestic availability of natural rubber limited further declines in rubber prices. Concerned over the sharp decline in natural rubber prices, the National Confederation of Rubber Producers’ Unions (NCRPS) has called on farmers to stop selling rubber until the price exceeds Rs 200 per kilogram, marking the first time such a protest has been staged in the industry’s history. 

Spot prices for RSS-4 variety fell at Rs 183/ kg compared to its previous closing of Rs 184/ kg; while the RSS-5 variety declined at Rs 180/ kg compared to its previous closing of Rs 181/ kg.

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