Monday, January 18, 2016

Demand for protective duty


The steep fall in prices of natural rubber from `.240 per kilo gram to `.96 per kg has affected around 12 lakh small scale farmers in Kerala. Kerala Congress (M) leader Jose K. Mani, MP, launched an indefinite fast demanding immediate intervention of the Centre to find a lasting solution to the crisis in the natural rubber sector. In his address, K.M. Mani came down heavily on the Central government, which, in spite of repeated demands made by the State, had not taken any effective steps to bring the price line back to normal. So he demanded the Centre to implement the protective duty as per the 19th section of World Trade Agreement for rubber. 

The benchmark RSS4 grade rubber closed at `.97 a kg at Kottayam, while RSS3 grade closed at `.86.72 a kg at Bangkok and Malaysian SMR20 closed at `.72.62 a kg. On National Multi Commodity Exchange January 2016 futures closed at `.98.30 a kg, February at `.99.91 and March closed at `.102.59 a kg. On Tokyo Commodity Exchange, January 2016 futures series closed at ¥145.3 a kg, February at ¥147.5, March at ¥151.1, April at ¥153.7, May at ¥156 and the contract for delivery in June 2016 closed at ¥157.4 a kg. On Tuesday, most probably Tocom futures contract for delivery in June 2016 may trade in the range of ¥156 & ¥161 a kg.

To read Rubber4U – 15th January 2016 issue: http://rubber4u.com/Public/Abcd.pdf
For 2015-16 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf

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