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
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