Spot rubber improves on short covering

Spot rubber improves on short covering

Kottayam, Sept. 4

Spot rubber finished better on Saturday. According to sources, traders were reacting to the rumours that certain tyre manufacturers would re-enter the market during the succeeding weeks.

Sheet rubber improved to Rs 165 from Rs 164 a kg on fresh buying and short covering. The volumes were comparatively better though there was no visible improvement in arrivals.

Futures gain

The September series increased to Rs 165.76 (165.24), October to Rs 163.77 (162.85), November to Rs 164.42 (163.60) and December to Rs 165.84 (164.98) a kg for RSS 4 on the National Multi Commodity Exchange. The volumes stood at 1326 lots. The turnover was Rs 21.86 crore and open interest 4436 lots.

Spot rates were (Rs/kg): RSS-4: 165 (164); RSS-5: 160 (157); ungraded: 158 (154); ISNR 20: 149.50 (149) and latex 60 per cent: 111 (111).



Rubber duty: corruption alleged

Staff Reporter
KOTTAYAM: BJP State president V. Muraleedharan has alleged that corruption was behind the Central government's decision to change the import duty regime on Natural Rubber.

Inaugurating a dharna organised by the party district committee and Karshaka Morcha in front of the Head Post Office here on Saturday, Mr. Muraleedharan said the silence of the Union Ministers from the State amounted to their tacit approval of the corruption involved in the issue.

He said the new policies being implemented by the Central government were aimed at protecting the interests of the corporate sector at the cost of the farming community in the country.

The Congress leadership was taking forward the policies of globalisation and placing the interests of the country at the feet of multinationals, he said.

Mr. Muraleedharan said that the Delhi High Court and the Rubber Board had taken an empathetic attitude to the cause of the rubber farmers. However, the UPA government was bent on exploiting the situation to the benefit of the big business houses , he said. Mr. Muraleedharan said the BJP and the Karshaka Morcha would be in the forefront of the agitation to bring back the earlier import duty regime in the NR sector.(The Hindu)