Though there is sluggish demand prevailing in
the economy for automobiles, tyre production is expected to reach almost 20
crores units by 2016-17.
Rubber farmers have held protests in
Thailand’s south to pressure the government to subsidize prices. Thai cabinet
approved proposals from the rubber policy committee to help subsidize
production costs for small rubber growers. Thailand will temporarily scrap a
tax on rubber exports to support fallen prices, a move aimed at appeasing angry
rubber farmers. Thailand governments attempt to calm down angry rubber growers
failed, prompting thousands of growers and tappers to continue their protests
now in their second week.
Rubber traded near the highest level in more
than three months amid speculation protests by Thailand farmers, which may
disrupt exports from the country.
At Kottayam, RSS4 grade closed at `.186.50
a kg. RSS3 grade closed at `.178.19 a kg at
Bangkok, while Malaysian SMR20 closed at `.162.27 a kg. On the
Tokyo Commodity Exchange, September futures series closed at ¥270 a kg, October
at ¥271, November at ¥273, December at ¥276.6, January 2014 at ¥279.1 and the
contract for delivery in February 2014 closed at ¥282.7 a kg. While on the
National Multi Commodity Exchange September futures closed at `.187.19
a kg, October at `.186.48, November at `.187.40 and December
at `.189.27 a kg.
On the sidelines of Asian Latex Conference held
at Ramada Resort in Kochi, Jay Nambiar, CEO of Hevea-Tech Pvt. Ltd., Kuala
Lumpur, said Kerala should find urgent techniques for reducing the dependence
on labour for harvesting the rubber latex. It should either mechanise the
harvesting method or should improve on the existing method. The growth of
synthetic rubber market wouldn't affect the country's natural rubber market as
90% of the products are a blend of these two grades.
Read
lot more in Rubber4U – 15th September 2013 issue
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