India may raise import duty on natural rubber by 70 pct - sources

Newswire

MUMBAI, Feb 27 (Reuters) - India, the world's fourth largest rubber producer, could increase import duties on natural rubber by 70 percent as early as Wednesday in order to support falling local prices, two industry sources and one government official told Reuters. The government wants to fix import duties at 34 rupees per kg, or 20 percent, whichever is lower, said an official with the state-run Rubber Board, who declined to be named. The existing duty is 20 rupees per kg, or ...

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