Spot rubber declined on Monday following an almost panic selling from dealers as the reports from the domestic and international futures were extremely disappointing.
Absence of genuine buyers and lack of confidence on the immediate future of the commodity kept the sentiments under pressure during the day.
Sheet rubber surrendered to Rs 170 (174) a kg, according to the traders. The grade dropped to Rs 172.50 (174) a kg at Kottayam and Kochi as quoted by the Rubber Board.
The August series slid to Rs 170 (175.02), September to Rs 163.90 (167.07), October to Rs 162 (166.25), November to Rs 161 (165.56) and December to Rs 162.25 (166.37) a kg for RSS 4 on the National Multi Commodity Exchange.
The Tokyo rubber futures fell to the lowest in nearly three years on worries over the decreasing demand and the debt crisis in Europe. RSS 3 weakened with August futures slipping to ¥ 206 (Rs 145.82) from ¥ 209.8 a kg during the day session and then to ¥ 203 (Rs 143.62) in the night session on Tokyo Commodity Exchange.
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