Physical Rubber prices witnessed improvement on Wednesday due to strong demand and lingering supply concerns in the market. Meanwhile, the Association of Natural Rubber Producing Countries said the natural rubber market is on the threshold of a deficit for a long period that could extend up to 2031 due to widening chasm between supply and demand. Supply shortages expected to be 2 lakh tonnes this year. Spot prices for RSS-4 variety gained to Rs 179.50/ kg compared to its previous closing of Rs 179/ kg; while the RSS-5 variety firmed to Rs 177.50/ kg compared to its previous closing of Rs 177/ kg.
In the futures market, December delivery traded flat at its previous closing of Rs 177.70 on the Indian Commodity Exchange Limited (ICEX).