Plan to form buffer stock

On 9th May, at the stakeholders' meeting held at Rubber Board’s headquarters in Kottayam, tyre and rubber products manufacturers have proposed the idea of forming a buffer stock of 30,000 tonnes of natural rubber funded by the public-private partnership model. Under the proposed model, the funding expenses would be met by the consuming industries or the state government on behalf of the producing community, or funding by the central government through the department of commerce. 

On Saturday, the benchmark RSS4 grade rubber closed at `.139 a kg at Kottayam. While the latest closing for RSS3 grade was at `.120.79 a kg at Bangkok and Malaysian SMR20 closed at `.100.04 a kg. On National Multi Commodity Exchange, May 2014 futures closed at `.136.96 a kg, June at `.141.57, July at `.143.06 and August at `.142.80 a kg. While rubber mini contract for May closed at `.136.75 and June at `.140.10 a kg. On Tokyo Commodity Exchange, May 2014 futures series closed at ¥194.9 a kg, June at ¥197.1, July at ¥197.7, August at ¥199, September at ¥199.1, and the contract for delivery in October 2014 closed at ¥198.3 a kg. On Monday a positive trend is expected.

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