Physical rubber prices declined on Monday due to low volumes in the market and absence of follow-up buying at higher levels as expected. Further, the inauguration of the State-level rubber procurement by Finance Minister in Kerala failed to make any impact on the market, too dampened the rubber prices to some extent.
Spot prices for RSS-4 variety declined to Rs 147.50/ kg compared to its previous closing of Rs 150/ kg, while RSS-5 variety closed at Rs 146/ kg compared to its previous close of Rs 147/ kg.
In the futures market, contract of March delivery declined to Rs 147.40 compared to its previous closing of Rs 147.51, while April delivery closed at Rs 151.50 compared to its previous close of Rs 151.76 on the National Multi Commodity Exchange (NMCE).
