Natural rubber prices slip in domestic market

Natural rubber prices here today fell by Rs 3 to Rs 227 per kg on the back of declining rates in the international markets.

The rate of this commodity in the domestic market was Rs 230 per kg on March 5, according to the rubber board data.

"The prices of NR (Natural Rubber) have fallen in the major international physical markets like Malaysia, which affected prices here," Indian Rubber Dealers Association President George Valy said.  

Natural Rubber in the international physical market at Bangkok was being sold today at Rs 267.53 per kg as against Rs 270.10 per kg on March 4. 

Valy added that China also was buying less rubber due to fears of more unrest in Libya, which could affect crude prices further and may affect automobile sales.

Besides, he said, "The farmers are also bringing some produce in the markets, which too had partially affected the prices."

(Source: http://www.business-standard.com/india/news/natural-rubber-prices-slip-in-domestic-market/128130/on)