Physical rubber prices improved on Thursday on covering purchases following the Government’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 growers in the country.
Spot prices for RSS-4 variety improved to Rs 162/kg compared to its previous closing of Rs 160/kg, while RSS-5 variety closed at Rs 153/kg compared to its previous closing of Rs 150/kg.
In the futures market, contract of January delivery improved to Rs 166.05 compared to its previous closing of Rs 164.54, while February delivery closed at Rs 168.80 compared to its previous closing of Rs 167.10 on the National Multi Commodity Exchange (NMCE).
