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Rubber prices fell to an almost five-year low on Tuesday. Heavy imports, a fall in the international markets and oversupply weighed heavily on prices, amidst extremely dull local demand.
Sheet rubber weakened to ₹137 (₹140) a kg, according to traders. The grade dropped to ₹138 (₹140) and ₹135 (₹137) respectively, according to the Rubber Board and dealers. May futures closed at ₹138.60 (₹138.44), June at ₹141 (₹140.76), while the Rubber Mini May futures concluded at ₹139.85 (₹139.04) on the National Multi Commodity Exchange. RSS 3 (spot) declined to ₹123.51 (₹128.88) at Bangkok. April futures dropped ¥196.4 (₹116.49) on the Tokyo Commodity Exchange.
Spot rubber rates (₹/kg): RSS-4: 137 (140); RSS-5: 134 (136); Ungraded: 129 (130); ISNR 20: 126 (130) and Latex 60%: 112 (114).
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