Physical rubber prices improved on Saturday following the Centre’s decision to hike the import duty up to Rs 30 per kg in order to control the sharp fall in domestic prices and protect interest of about 12 lakh farmers.
Spot prices for RSS-4 variety improved to Rs 158/kg compared to its previous closing of Rs 156/kg, while RSS-5 variety closed at Rs 149/kg compared to its previous closing of Rs 147/kg.
In the futures market, contract of January delivery increased to Rs 164.39 compared to its previous closing of Rs 161.73, while February delivery closed at Rs 167.15 compared to its previous closing of Rs 164.35 on the National Multi Commodity Exchange (NMCE).
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