OUTLOOK-India rubber seen down on import duty cut talk

Newswire

MUMBAI, August 23 (Reuters) - Indian rubber prices are likely to extend losses this week on view the government will cut the tax on imports while local supplies are expected to rise due to favourable weather, dealers said. "Prices are in a corrective mode. Market is assuming government will allow import at lower tax," George Valy, president of The Indian Rubber Dealers Federation, said. India currently charges 20 percent tax on natural rubber imports and there is speculation the ...

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