Business Daily from THE HINDU group of publications
Wednesday, Dec 20, 2006
ePaper
Business Daily from THE HINDU group of publications Wednesday, Dec 20, 2006 ePaper |
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Agri-Biz & Commodities
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Rubber Rubber Board cautions growers against holding stocks Aravindan
Kottayam , Dec. 19 The sudden price hike in domestic rubber does not convey the real reflections of the market and it is the work of certain forces who create artificial spurt in prices for a short period with the intention of making immediate profits, the Rubber Board has warned. The policy of the Rubber Board is that the domestic rubber growers should get the same price prevailing in Thailand, Indonesia and Malaysia. When the prices were low in the intentional market the Board tried to reduce the difference encouraging maximum exports from India. But domestic prices are shooting up without any visible uptrends in the international market.
Higher domestic price
The unexpected boom is at a time when the production is very high facilitating good inflow into the market. The domestic prices were Rs 15 higher than the international price during the last weekend. On Monday, the price for RSS 3 was 75.82 a kg at the Bangkok market. Following the artificial price hike, certain players have encouraged growers to retain the commodity on hopes that prices would flare up again. The Rubber Board cautioned growers to stay away from such exploitations. A fall is inevitable after any artificial price boom. This will result in large-scale arrival at the market where the situation becomes uncontrollable.
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