Farmers stage hartal

China, the leading global consumer of natural rubber, having imported 2.18 million tonnes of natural rubber in 2012, has bought around 54,000 tonnes of Ribbed Smoked Sheet grade natural rubber on Tuesday for government stockpiles.

Sharp fall in natural rubber prices has been causing serious concern in Kerala, India. Today, normal life was hit in Kottayam due to hartal called by pro-Left farmer’s outfits demanding ban on import of rubber in view of crash in prices. Kottayam and the adjoining areas have a large number of small and medium cultivators. The mobility of the people was seriously affected as private buses and autorickshaws kept off the roads, Shops and business establishments remained closed. The farmers were demanding that either a ban on import of rubber or increase in the import duty to shore up the price of the domestic output.

RSS4 grade closed at `.159.50 a kg at Cochin, while National Multi Commodity Exchange November futures closed at `.161.09 a kg, December at `.162.87 and January 2014 at `.164.73 a kg. RSS3 grade closed at `.155.48 a kg at Bangkok and Malaysian SMR20 closed at `.142.38 a kg. While Tokyo Commodity Exchange, November futures series closed at ¥250.2 a kg, December at ¥253.1, January 2014 at ¥255.9, February at ¥258.9, March at ¥261.8 and the contract for delivery in April 2014 at ¥264.3 a kg. On Thursday most probably market is expected to be in green.