The persistent fall in the prices in the past
two years had caused concern among rubber growers in Kerala. Kerala government has
asked Centre to regulate import of natural rubber and hike excise duty to check
its falling prices in domestic market. Recently, Kerala government had introduced
a support scheme whereby small-scale rubber growers would get an assured price
of `.150 per kg. The State government's commitment towards
this scheme would come to around `.300 crore in the
current fiscal and it would go up to `.500 crore next year.
The problem of low-cost imports is putting at
risk the entire ‘Make in India’ clarion call by the Indian government. According
to Mohinder Gupta, president of All India Rubber Industries Association, much
higher import duties on raw materials such as natural and synthetic rubbers
than on finished rubber goods have impacted the export competitiveness of the
rubber sector in India. Import duty should be zero for the rubber and raw
materials not being manufactured in the country. The proposed national rubber
policy is still a work-in-progress. The meetings of the working group formed
for framing national rubber policy are over. Different stakeholders have made
their submissions. We have requested the government to come out with the policy
as soon as possible.
Through bilateral friendly consultations in
Thailand, Sinochem and Rubber Authority of Thailand (RAOT) signed a purchase
agreement of 200,000 tonnes of natural rubber, which is the largest order in
2015.
The benchmark RSS4 grade rubber closed at `.105
a kg at Kottayam, while RSS3 grade closed at `.85.34 a kg at Bangkok
and Malaysian SMR20 closed at `.77.97 a kg. On
National Multi Commodity Exchange December 2015 futures closed at `.105.38
a kg, January 2016 at `.105.49 and February closed at `.106.16
a kg. On Tokyo Commodity Exchange, December 2015 futures series closed at ¥161.8
a kg, January 2016 at ¥165.1, February at ¥167.3, March at ¥169, April at ¥169.8
and the contract for delivery in May 2016 closed at ¥170.7 a kg.
To read Rubber4U – 15th December
2015 issue: http://rubber4u.com/Public/Abcd.pdf
Visit
Us at Rubber World Expo 2015 at B-34, BEC, Goregaon-Mumbai, India.
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