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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