Financial Daily from THE HINDU group of publications
Wednesday, Feb 13, 2002

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Agri-Biz & Commodities - Rubber

Rubber down on slack trading

Our Correspondent


RUBBER market declined in sluggish trading. Excepting for latex 60 per cent all grades of dry rubber had a price fall. Major traders were not buying as they were unable to send rubber consignments to purchasers owing to non-receipt of tax payment certificate from the sales tax authorities. The certificate has to accompany every consignment of rubber sent outside the State.

The Kerala Government employees are now on an indefinite strike in protest against discontinuance of some of their perks. However, higher officials at the sales tax office have stated that arrangements for issue of the certificate would be made soon.

Meanwhile, the Kerala Cabinet has decided to defray the loss incurred on export of rubber over and above the subsidy of Rs 3.50 per kg from the Rubber Board, provided purchase is made at the MSP of Rs 32.09 per kg for RSS 4. The assistance would be for 20,000 t. Also, 10,000 t would be kept in stock.

Sheet rubber RSS 4 was traded at Rs 30.50 against Rs 30.75 on Monday and RSS 5 at Rs 28.50 against Rs 29 per kg. Block rubber and ungraded rubber also lost 50 paise to trade at Rs 28 per kg and Rs 27.25 respectively. Latex 60 per cent remained flat at Rs 28 per kg.

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