Thursday, July 2, 2015

Kerala govt. to implement minimum price scheme

The price stability fund announced by Kerala state in its budget for this year with the aim of giving relief to rubber farmers, has decided to implement a project that will utilize the price stability fund of `.300 crore and ensure that small farmers get a minimum price of `.150 per kg for rubber. The farmers who register in the project, will get the difference in the market price of rubber published every day. Subsidy will be given for a maximum of two hectares having rubber cultivation. A maximum of 1800 kg for a hectare will get the benefit. Subsidy would be provided on the basis of the report submitted by the field officer. The amount will be credited to the account of the farmers once in every two weeks.

The decision has been taken yesterday at a meeting attended by Chief Minister Oommen Chandy and Finance Minister K M Mani with a sub-committee set up for the purpose. While Agriculture organisations have announced their total support for the project.

Spot rubber continued to rule unchanged, though market seemed to be suffering from acute short supplies. The benchmark RSS4 grade rubber closed at `.129.50 a kg at Kottayam, while RSS3 grade closed at `.109.36 a kg at Bangkok and Malaysian SMR20 closed at `.94.99 a kg. On National Multi Commodity Exchange July 2015 futures closed at `.130.04 a kg, August at `.131.27 and September at `.130.65 a kg. Tokyo Commodity Exchange ended the week in negative, July 2015 futures series closed at ¥207.3 a kg, August at ¥209.6, September at ¥212.8 October at ¥214.9, November at ¥217.9 and the contract for delivery in December 2015 closed at ¥221.1 a kg. On Friday, most probably Tocom futures contract for delivery in November 2015 may trade in the range of ¥224 & ¥215 a kg.

To read Rubber4U – 1st July 2015 issue:

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