On August 28, due to speculative holding back of stocks by sellers and firm overseas cues from key Asian markets like Tokyo and Bangkok, the spot rubber prices went up. And the benchmark RSS-4 grade has touched a new record high of Rs 142 a kg.
The previous high for RSS-4 grade was Rs 141.50 on August 1. Although the board had placed the price of the commodity at Rs 141.50 for that day, most traders said they sold the commodity at Rs 142 then. Overall supply of the commodity is weak due to growers holding back stocks as well as production in August being disrupted by rains in growing areas of Kerala.
The previous high for RSS-4 grade was Rs 141.50 on August 1. Although the board had placed the price of the commodity at Rs 141.50 for that day, most traders said they sold the commodity at Rs 142 then. Overall supply of the commodity is weak due to growers holding back stocks as well as production in August being disrupted by rains in growing areas of Kerala.
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