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.

To read Rubber4U – 15th March 2015 issue: http://rubber4u.com/Public/Abcd.pdf
For Union Budget 2015-16 Highlights visit: www.rubber4u.com

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