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Physical rubber prices decline on Wednesday

09 Jun 2011 Evaluate

Physical rubber prices weakened on Wednesday lacking any fresh cues from the domestic or international markets to keep the prices firm. Meanwhile, according to the International Rubber Study Group, global natural-rubber shortage may narrow this year as high prices spur farmers from Indonesia to Myanmar to boost tapping

Spot prices for RSS-4 variety closed at Rs 225/kg compared to its previous closing of Rs 226/kg, while RSS-5 variety closed at Rs 223/kg compared to its previous closing of Rs 224/kg.

In the futures market, the contract of RSS-4 for June delivery weakened to Rs 224.43 compared to its previous closing of Rs 225.07, while the contract for July delivery closed at Rs 228.50 compared to its previous closing of Rs 229.17 on National Multi Commodity Exchange.

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