Growers interest to be protected

Today oil prices extended gains in Asian trade as extra cold weather in the United States bolstered the demand for heating fuel. US benchmark West Texas Intermediate crude for March delivery trading at $97.72 at 13.00 IST

In December 2013, India's rubber & rubber articles exports have grown 22.69% to US$214.5 M, compared to November 2013 exports.

Union Minister for Commerce Anand Sharma has assured Kerala Chief Minister Oommen Chandy that his Ministry will take steps to protect the interests of rubber growers, who have been agitating on the steep fall in rubber prices due to imports. The minister has agreed to consider the request of Mr. Chandy to increase the rubber planting subsidy to 30% from the present 20%.

On Tuesday, the benchmark RSS4 grade rubber closed at `.142.50 a kg at Kottayam. Today, RSS3 grade closed at `.134 a kg at Bangkok and Malaysian SMR20 closed at `.119.31 a kg. On Tokyo Commodity Exchange, February 2014 futures series closed at ¥216.6 a kg, March at ¥215, April at ¥215.8, May at ¥218, June at ¥219.5 and the contract for delivery in July 2014 closed at ¥220.5 a kg. While on National Multi Commodity Exchange, February 2014 futures trading at `.146.61 a kg, March at `.149, April at `.151.90 and May at `.153.60 a kg at 13.00 IST

What our readers say: http://rubber4u.com/Public/Views.pdf

Read lot more in Rubber4U – 15th February 2014 issue