Tuesday, March 31, 2015
Sunday, March 15, 2015
Wednesday, March 11, 2015
Think of farmers & dealers to go on indefinite closure
The steady fall in price of rubber in the
international market has been a matter of great concern for the rubber farmers
and dealers. A division bench comprising of acting chief justice Ashok Bhushan
and justice AM Shaffique considered a petition filed by former Parliament
member PC Thomas. Kerala High Court observed that the Union government was
bound to take into account the plight of rubber farmers while formulating
import policies.
The domestic rubber dealers have stopped
buying RSS-4 grade rubber from farmers and Indian Rubber Dealers Federation
(IRDF) has announced an indefinite closure of their establishments from 17th March,
by closing down their shops, if the tyre manufacturers are not ready to buy
rubber immediately. If the closer continues for a longer period, imports are
bound to increase further.
The benchmark RSS4 grade rubber closed at `.132.90
a kg at Kottayam, while RSS3 grade closed at `.110.73 a kg at
Bangkok and Malaysian SMR20 closed at `.86.90 a kg. On
National Multi Commodity Exchange March 2015 futures closed at `.120.85
a kg, April at `.124.37 and May at `.125.54 a kg. On
Tokyo Commodity Exchange, March 2015 futures series closed at ¥213 a kg, April
at ¥211.9, May at ¥212.3, June at ¥210.8, July at ¥208.9 and the contract for
delivery in August 2015 closed at ¥208.5 a kg. On Thursday, most probably Tocom
futures contract for delivery in August 2015 may trade in positive range of ¥209
& ¥214 a kg.
For Union
Budget 2015-16 Highlights visit: www.rubber4u.com
Tuesday, March 10, 2015
Dependency on import increases
Tokyo Commodity Exchange futures touched a
one month intraday low of ¥206.6 a kg on Monday, still higher than it’s lowest
in more than five years hit in October 2014. While today it fell by -1.9,
ending the day at ¥208.7 a kg, as a yen regained some ground in late trade
after hitting an eight-year low against the U.S dollar and also due to worry
over slowing demand in China.
In February 2015, natural rubber production
in India fell by 13.5% to 50,000 tonnes from 57,800 tonnes, while consumption increased
to 82,500 tonnes from 79,375 tonnes in February 2014. Natural rubber imports in
February jumped nearly 42% to 28,806 tonnes from a year earlier as lower prices
in the world market prompted tyre makers to raise overseas purchases.
The benchmark RSS4 grade rubber closed at `.134.15
a kg at Kottayam, while RSS3 grade closed at `.111.81 a kg at
Bangkok and Malaysian SMR20 closed at `.87.82 a kg. On
National Multi Commodity Exchange March 2015 futures closed at `.120.18
a kg, April at `.123.94 and May at `.125.02 a kg. On
Tokyo Commodity Exchange, March 2015 futures series closed at ¥212.7 a kg,
April at ¥211.7, May at ¥212, June at ¥211.5, July at ¥209.2 and the contract
for delivery in August 2015 closed at ¥208.7 a kg.
For Union
Budget 2015-16 Highlights visit: www.rubber4u.com
Friday, March 6, 2015
Stakeholder should work together for betterment of industry
Speakers at India Rubber Meet 2015 were of
view that stakeholders should take a collaborative approach and adoption of new
technologies to tide over problems being faced by rubber industry and should
work together for betterment of the industry.
K.T. Thomas, former president, All India
Rubber Industries Association, said the present phase of low prices for natural
rubber was the opportune time for replanting rubber. The rubber prices would go
up after some time, as the past trend showed cyclic changes, while growers
should focus on quality produce.
The benchmark RSS4 grade rubber closed at `.138
a kg at Kottayam, while RSS3 grade closed at `.114.48 a kg at
Bangkok and Malaysian SMR20 closed at `.88.45 a kg. On
National Multi Commodity Exchange March 2015 futures closed at `.123.72
a kg, April at `.125.22 and May at `.126.45 a kg. On
Tokyo Commodity Exchange, March 2015 futures series closed at ¥216.3 a kg,
April at ¥215.6, May at ¥215.5, June at ¥213, July at ¥210.8 and the contract
for delivery in August 2015 closed at ¥209.9 a kg.
For Union
Budget 2015-16 Highlights visit: www.rubber4u.com
Wednesday, March 4, 2015
India Rubber Meet 2015
Today, G Madhavan
Nair, former chairman of the ISRO and chairman of the Centre for Management
Development will inaugurate the two-day India Rubber Meet 2015, organised
jointly by the Rubber Board and other stakeholders association, at Le Meridien
Convention Centre, Kerala.
The theme of meet is ‘Finite
Resources: Infinite Opportunities’, which will explore the the commercial
opportunities of rubber, including the auxiliary activities. It will also
examine the green agenda, referring to new sustainability goals. Experts from
different areas of rubber cultivation and industry will speak on areas such as
the economics of rubber cultivation and industry, technical issues, and new
breakthroughs in research.
Experts and key
stakeholders from different segments of the rubber industry across the world
will participate in the panel discussions. The Panel discussions will be
chaired by A Jayathilak, chairman, Rubber Board of India; and A K Krishnakumar,
executive director, Infrastructure Leasing and Financial Services, New Delhi.
India is expected to import
about 425,000 tonnes of natural rubber in the current financial year. The gap
between domestic and overseas prices will ensure higher imports.
Reserve Bank of India
today cut repo rate by 25 basis points to 7.5% from 7.75%. The move comes on
the back of lower inflation. The cut in the policy rate by RBI will help in
lowering interest rate for individual and corporate borrowers.
The benchmark RSS4 grade rubber closed at `.139.65
a kg at Kottayam, while RSS3 grade closed at `.116.37 a kg at
Bangkok and Malaysian SMR20 closed at `.87.50 a kg. On National
Multi Commodity Exchange March 2015 futures closed at `.124.17
a kg, April at `.125.33 and May at `.126.81 a kg. On Tokyo
Commodity Exchange, March 2015 futures series closed at ¥221.3 a kg, April at
¥221.6, May at ¥222.9, June at ¥221.2, July at ¥219.6 and the contract for
delivery in August 2015 closed at ¥219.5 a kg.
For Union
Budget 2015-16 Highlights visit: www.rubber4u.com
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