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India: Higher import duty boosts spot rubber

KOTTAYAM, DEC 21:

The domestic rubber prices strengthened on Saturday. The news that the Govt. revised the import duty to either 20% or Rs.30.00 per kg whichever is lower has catalysed the sentiments in the spot and futures markets.

Sheet rubber improved to Rs.158.00 (156.00) per kg according to traders. The grade was quoted firm at Rs. 156.00 (154.00) and Rs.153.00 (151.00) per kg respectively by the Rubber Board and dealers.

The January futures increased to Rs.164.39 (161.73), February to Rs.167.15 (164.35), March to Rs.169.80 (167.00), April to Rs.170.60 (168.47) and May to Rs.171.73 (169.19) per kg on National Multi Commodity Exchange (NMCE).

The spot rubber rates per kg were: RSS-4: 158.00 (156.00) RSS-5: 149.00 (147.00)

Ungraded: 146.00 (144.00) ISNR 20: 150.00 (149.00) and Latex 60%: 111.00 (110.00)

Source: The Hindu

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