Rubber hits record high of Rs 86.50

The spike in natural rubber prices continued as the bench mark RSS-4 grade hit all-time record of Rs 86.50 a kg today. The market closed last week at Rs 85.50.

The other major grades, RSS-5 and ISNR-20, quoted Rs 85, a rupee higher than last week's closing, while ungraded sheet was being traded at Rs 84.50.

The market remains buoyant as the international market, especially Tocom futures, continued its upward trend today.

Price for RSS-3 at the Tocom has increased to 249.4 yen, a yen higher over last week's closing for the April contract.

Traders said that there was an acute shortage for sheet rubber owing to stoppage of tapping in producing centers.