The domestic rubber prices are moving in line
with the global prices, which have been sliding for some time due to oversupply
of the commodity and lack of demand. The recent declaration by Union Commerce
Minister - Nirmala Sitharaman that the import duty on natural rubber will not be
raised further has only compounded grower’s woes. The drop in rubber prices
seems to have affected the growers very badly. Even if the government look at
the prospect of exporting rubber by providing subsidy to help the growers, then
the question arise about quality and price.
The benchmark RSS4 grade rubber closed at `.131
a kg at Kottayam, while RSS3 grade closed at `.114.41 a kg at
Bangkok and Malaysian SMR20 closed at `.102.03 a kg. On
National Multi Commodity Exchange August 2014 futures were trading at `.128.25
a kg, September at `.128.78, October at `.128, November at `.128
and December at `.128.50 a kg, at 16.45 IST. On Tokyo Commodity Exchange,
August 2014 futures series closed at ¥185.6 a kg, September at ¥188.5, October
at ¥190, November at ¥193.3, December at ¥196.1 and the contract for delivery
in January 2015 closed at ¥198.1 a kg.
What our readers say: http://rubber4u.com/Public/Views.pdf
For
2014-15 Rubber Forecast, Read 15th August 2014 issue
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