Physical rubber prices moved higher on Tuesday

Physical rubber prices gained on Tuesday tracking the upmoves in the domestic and international futures. The early monsoon rains and possibility of further decline in arrivals and production owing to it led short covering.

The spot prices for RSS-4 variety closed at Rs 223.00/kg compared to its previous closing of Rs 217.50/kg, while the RSS-5 variety closed at Rs 220.00/kg compared to its previous closing of Rs 216.00/kg.

In futures market, the contract of RSS-4 for June delivery surged to Rs 229.50 compared to its previous closing of Rs 222.40, while the contract for July delivery closed at Rs 233.90 compared to its previous closing of Rs 226.72 on National Multi Commodity Exchange.