Monday, June 30, 2014
Wednesday, June 25, 2014
Relief extended
During 2013-14, auto industry has been
struggling and car sales fell 4.65% to 17,86,899 units compared to 18,74,055
units in 2012-13. In the Interim Budget presented in February 2014, excise duty
on small cars, scooters, motorcycles and commercial vehicles was reduced to 8%
from 12%, 24% from 30% for SUVs, 20% for mid-sized car from 24% and 24% for
large cars from 27%, which is applicable till 30th June 2014. Today, Finance
Minister Arun Jaitley extended the excise duty cut till December 2014. The
industry hope demand to improve in the festive season between September and
December.
Today the benchmark RSS4 grade rubber closed
at `.148 a kg at Kottayam, while RSS3 grade closed at `.129.92
a kg at Bangkok and Malaysian SMR20 closed at `.107.59 a kg. The
last traded prices on National Multi Commodity Exchange at 4.40 pm IST, for
July 2014 were at `.145.01 a kg, August at `.144.91, September at
`.143.90 and October at `.143 a kg. On Tokyo
Commodity Exchange, July 2014 futures series closed at ¥207.2 a kg, August at
¥209.6, September at ¥212.7, October at ¥214.8, November at ¥217.3 and the
contract for delivery in December 2014 closed at ¥219.4 a kg.
What our readers say: http://rubber4u.com/Public/Views.pdf
Tuesday, June 24, 2014
As inventory falls, prices moved up
Oil prices pull back as traders pull back
from their worst case scenarios and focus on the fact that oil exports from
Iraq's southern ports are near record highs. Thailand military government plans
to shore up falling rubber prices by increasing domestic rubber consumption
instead of intervening in the market.
After a fraud investigation at the port,
banks are more careful in granting financial support. It is estimated that stocks
of natural, synthetic and compound rubber slipped to 327,900 tonnes from
362,200 tonnes in mid-May. About 14% of the stock holding is compound rubber made
of natural and synthetic rubber used in tyres, which dealers say is mostly tied
to financing deals. The inventory of natural rubber in Qingdao has fallen more
than 3% to 261,000 tonnes since May. One of the reasons why stocks have fallen
is because there has been less rubber for financing and the stock is expected
to fall further. A drop in Qingdao stocks is usually positive for rubber prices
as it implies stronger demand.
Today the benchmark RSS4 grade rubber closed
at `.147.50 a kg at Kottayam, while RSS3 grade closed at `.130.14
a kg at Bangkok and Malaysian SMR20 closed at `.107.90 a kg. The
last traded prices on National Multi Commodity Exchange for July 2014 were at `.148.15
a kg, August at `.148.01, September at `.147.20 and October
at `.145.75 a kg. On Tokyo Commodity Exchange, June 2014
futures series closed at ¥206.1 a kg, July at ¥207.2, August at ¥210.1,
September at ¥212.7, October at ¥214.9 and the contract for delivery in
November 2014 closed at ¥217 a kg. The benchmark rubber contract for November
delivery dropped ¥1.3 to settle at ¥217 a kg, as profit taking and a decline in
crude oil market pressured the prices.
What our readers say: http://rubber4u.com/Public/Views.pdf
Friday, June 20, 2014
Welcome move
Natural rubber prices have reached the lowest
point in the last five years and this situation has pushed farmers into deep
financial crisis. The Association of Planters of Kerala attributed the unabated
imports by rubber consuming industries as the main reason for the continuing
free fall of prices and has urged the government to ban rubber imports to
protect the growers from further crisis. If this trend is allowed to continue,
the situation might lead to farmers' suicides, and abandon rubber cultivation
or switch over to other activity.
The United Planters’ Association of Southern
India (Upasi) has welcomed the move to formulate a national rubber policy. Upasi
is of the view that any policy formulation should be inclusive by addressing
the real concerns of the sector, which comprise more than a million natural
rubber growers, 6000 micro, small and medium rubber manufacturing units and a
few tyre manufacturers in the country.
Today, the benchmark RSS4 grade rubber closed
at `.146 a kg at Kottayam, while RSS3 grade closed at `.127.99
a kg at Bangkok and Malaysian SMR20 closed at `.104.17 a kg. On
National Multi Commodity Exchange, July 2014 futures closed at `.146.66
a kg, August at `.145.61, September at `.144.61 and October
at `.142.59 a kg. On Tokyo Commodity Exchange, June 2014
futures series closed at ¥200.4 a kg, July at ¥203.1, August at ¥205.4,
September at ¥207.7, October at ¥210 and the contract for delivery in November
2014 closed at ¥212.7 a kg.
What our readers say: http://rubber4u.com/Public/Views.pdf
Thursday, June 19, 2014
Waiting for the direction
Rubber and tyre manufacturing is shifting to
Asia and India enjoys a unique position both in terms of natural rubber
production and consumption. Unfortunately India’s potential in the sector has
not been fully harnessed. Certain limiting factors have come in the way of full
blossomed growth. Now the Union government has constituted an expert committee
to formulate National Rubber Policy, which will be chaired by the Additional
Secretary (Plantations) Department of Commerce. The panel has members drawn
from relevant ministries, Rubber Board, industry, growers, processors and research
bodies. A notification in this regard has been issued by Department of
Commerce, Ministry of Commerce and Industry, Government of India. The expert
committee will submit its report including the draft of the National Rubber
Policy as early as possible, say, within six months, says the notification.
The committee will examine issues relating to
production, development and exports of rubber and related products and make
recommendations for a broad based policy related to Natural, Synthetic and
Reclaimed Rubber.
The Finance Minister Arun Jaitley is likely
to present the Union Budget for 2014-2015 in Parliament on 11th July, while Rail
Budget 2014-15 to be presented by Railway Minister Sadananda Gowda on 9th July. Major sectors are awaiting government’s announcement
that will not only give direction to the Indian economy but will also pave the
road for development of these sectors.
Today, the benchmark RSS4 grade rubber closed
at `.145.50 a kg at Kottayam, while RSS3 grade closed at `.127.93
a kg at Bangkok and Malaysian SMR20 closed at `.104.38 a kg. On
National Multi Commodity Exchange, June 2014 futures closed at `.146.26
a kg, July at `.145.36, August at `.143.74 and September
at `.141.92 a kg. On Tokyo Commodity Exchange, June 2014
futures series closed at ¥201 a kg, July at ¥200.8, August at ¥201.8, September
at ¥204.5, October at ¥206.6 and the contract for delivery in November 2014
closed at ¥208.9 a kg. On Friday, the market is expected to be in positive
trend and may cross ¥211 a kg.
What our readers say: http://rubber4u.com/Public/Views.pdf
Saturday, June 14, 2014
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