Malaysia, Indonesia and Thailand are
intensifying their efforts to help stop the decline in world rubber prices
which is affecting their economies and planters. Plantation Industries and
Commodities Minister, Amar Douglas Uggah Embas, said 11 Association of Natural
Rubber Producing Countries (ANRPC) nations contribute 95% to the world’s
natural rubber supply and if we all worked together, it would make a big impact
in handling the issue.
Indian Rubber Growers Association (IRGA) urged
the government to immediately increase the import duty to 25%. The Kerala
Government should also facilitate more uptake of rubber from the State to
improve prices by way of tax concessions and explore the possibility of rubberisation
of 20% of roads every year.
IRGA has also asked the domestic tyre
manufacturers to buy rubber from India at the landed cost of imported rubber.
Otherwise, the growers have threatened to boycott domestic tyre manufacturers
and resort to buying of cheaper imported tyres, the same way as the raw
material is being imported by the tyre industry. The growers association
comprising UPASI, APK, IRGA etc have filed a petition under the Provisions of
Safeguard before the Directorate of Safeguards-New Delhi to protect the
domestic rubber growers from un-controlled and unrestricted imports.
The benchmark RSS4 grade rubber closed at `.113.50
a kg at Kottayam, while RSS3 grade closed at `.96.52 a kg at
Bangkok and Malaysian SMR20 closed at `.89.36 a kg. On
National Multi Commodity Exchange December 2014 futures closed at `.114.05
a kg, January 2015 at `.112.92 and February at `.113.33 a kg. On
Tokyo Commodity Exchange, December 2014 futures series closed at ¥179.7 a kg, January
2015 at ¥184.8, February at ¥188.4, March at ¥192.2, April at ¥194.6 and the
contract for delivery in May 2015 closed at ¥195.9 a kg. On Monday, most
probably Tocom futures contract for delivery in May 2015 may trade in positive
range between ¥195 & ¥205 a kg.
To know
stock difference read Rubber4U – 15th December 2014 issue: http://rubber4u.com/Public/R4U12b.pdf
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