Business Daily from THE HINDU group of publications
Friday, May 16, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, May 16, 2008 ePaper | Mobile/PDA Version | Audio |
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Agri-Biz & Commodities
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Rubber ‘Rubber futures suspension must be extended for a year’ Our Bureau Kolkata, May 15 The All India Rubber Industries Association’s Chairman, Mr Sawar Dhanania, said the suspension of rubber futures should be extended for least a year, if not totally banned. “It is a welcome move. The suspension will help control speculative rise in prices if it is extended for at least a year,” Mr Dhanania said. The future trading in rubber does not make sense vis-À-vis agricultural commodities because the industry’s production is comparatively much less, he said. “Future trading should not have been allowed in the first place and now it needs to be banned all together,” he added. “The cost of production for raw rubber is much less compared to the prevailing price. The growers should simply look at covering the cost of production and achieving a remunerative price,” he said. The futures platform is used by players who are not even dealing in rubber and are only after speculative gains, he added. More Stories on : Rubber
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