Strong demand from tyre manufacturers in India and other industrial users is the main reason for the rise
Kottayam : Natural rubber prices in the domestic market hit a record high of Rs 285.50 per kg on Tuesday, as RSS-4 grade sheet rubber climbed to a new peak in both Kottayam and Kochi markets, according to Rubber Board. The latest increase surpassed Monday’s price of Rs 284.50 per kg, which had broken the previous record of Rs 284 set on Aug 1. RSS-4 grade rubber was quoted at Rs 282.12 per kg in the international market on Monday.
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Strong demand from tyre manufacturers in India and other industrial users is the main reason for the rise, trade sources said. Though domestic rubber prices generally follow international trends, strong local demand and a supply shortage have pushed Indian prices above global levels. Download the TOI App.
The earlier record had remained unchanged for four days.