Tuesday, September 3, 2013

Farmer’s protests even after grant of subsidies

Rubber farmers also demanded a price guarantee for their commodity, only was able to secure subsidies for production and value-added production to increase rubber consumption domestically. Thailand's Cabinet has approved 20 billion baht subsidy for 2013-2014, for rubber farmers and industry, who faced weak international prices amid poor demand for natural rubber due to slowdown in global economy.

The farmers called on the government to guarantee the price of rubber to help increase their incomes. More than 12,000 rubber farmers protested and blocked roads in Thailand's south after the government failed to answer their demands to boost declining rubber prices.

At Kottayam, RSS4 grade closed at `.186 a kg, while RSS3 grade closed at `.176.65 a kg at Bangkok, Malaysian SMR20 closed at `.163.10 a kg. On the Tokyo Commodity Exchange, September futures series closed at ¥271.4, October at ¥272.8, November at ¥275.3, December at ¥277.7, January 2014 at ¥281.4 and the contract for delivery in February 2014 closed at ¥284.3 a kg. While on the National Multi Commodity Exchange September futures closed at `.185.96 a kg, October at `.184.80, November at `.185.80 and December at `.187.47 a kg.

Read lot more in Rubber4U – 15th September 2013 issue

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