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Physical rubber prices improved on Monday

31 Dec 2013 Evaluate

Physical rubber prices improved on Monday on covering purchases at lower levels 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 164/kg compared to its previous closing of Rs 163/kg, while RSS-5 variety closed at Rs 156.50/kg compared to its previous closing of Rs 155/kg.

In the futures market, contract of January delivery firmed up to Rs 166.60 compared to its previous closing of Rs 165.90, while February delivery closed at Rs 169.11 compared to its previous closing of Rs 168.57 on the National Multi Commodity Exchange (NMCE).

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