Physical Rubber prices extended gains on Wednesday amid fresh enquiries from the non-tyre sector. Moreover, rubber prices improved further by reports from the Association of Natural Rubber Producing Countries (ANRPC) showing that the outlook of world production of natural rubber is expected to fall 12.4%, year-on-year, to 897,000 tons in February 2021, while the world consumption of natural rubber is estimated to recover at 47.5%, year-on-year, to 1.103 million tons during the same month.
Spot prices for RSS-4 variety rose to Rs 164.50/kg compared to its previous closing of Rs 163.50/kg; while the RSS-5 variety gained to Rs 160/kg compared to its previous closing of Rs 159/kg.