Physical rubber prices turned weak on Monday after the government allowed imports of 40000 tonnes of natural rubber at a concessional duty of 7.5 per cent for the current fiscal, the future markets too witnessed sharp decline in prices however, supply concern limited the fall.
Spot prices for RSS-4 variety closed at Rs 215/kg compared to its previous closing of Rs 216/kg, while the RSS-5 variety closed at Rs 212/kg compared to its previous closing of Rs 213/kg.
In the futures market, the contract of RSS 4 for August delivery closed at Rs 213.80 compared to its previous closing of Rs 217.64, while the contract of September delivery closed at Rs 212.82 compared to its previous closing of Rs 217.33 on the National Multi Commodity Exchange.
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