Physical rubber prices decline on Thursday

Physical rubber prices weakened on Thursday following the sharp decline in the domestic and international futures. The commodity weakened further as the traders lost their confidence since the Kerala Government has not yet begun the rubber procurement to support prices.

Spot prices for RSS-4 variety declined to Rs 149/ kg compared to its previous closing of Rs 152/ kg, while RSS-5 variety closed at Rs 148/ kg compared to its previous close of Rs 150/ kg.

In the futures market, contract of March delivery declined to Rs 147.67 compared to its previous closing of Rs 152.91, while April delivery closed at Rs 152.40 compared to its previous close of Rs 157.10 on the National Multi Commodity Exchange (NMCE).