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.

For latest rate of Currency Exchange: www.rubber4u.com/Statistic/Notices

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