Thai government was trying to solve problems
in the entire rubber system and the process would take time. It recently
approved plans to use natural rubber to build roads and sports stadium floors
to try to boost demand for local rubber and reduce market glut, while shoring
up prices.
The network led by Saksarit Sriprasart
announced that it would stage a mass protest rally on Friday, were in it is expected
that more than 5,000 affected growers to attend the rally. Prime Minister Gen
Prayut Chan-o-cha has urged the rubber planters to be patient while efforts are
made to solve problems throughout the sector and has instructed the National
Council for Peace and Order to negotiate with the rubber growers to find out
their problems and demands.
If the reduction in petrol and diesel prices
comes this week, it will be the 10th straight reduction in petrol prices since August
and sixth in diesel since October. Global crude oil prices are currently
hovering at $47 per barrel from the highs of $115 a barrel in June 2014.
The benchmark RSS4 grade rubber closed at `.126.70
a kg at Kottayam, while RSS3 grade closed at `.105.58 a kg at
Bangkok and Malaysian SMR20 closed at `.86.63 a kg. On
National Multi Commodity Exchange February 2015 futures closed at `.119.17
a kg, March at `.120.07 and April at `.121.61 a kg. On
Tokyo Commodity Exchange, February 2015 futures series closed at ¥195 a kg, March
at ¥197.8, April at ¥200.8, May at ¥201.6, June at ¥202.3 and the contract for
delivery in July 2015 closed at ¥202.2 a kg.
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