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Thursday, Mar 31, 2005

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Industry & Economy - Taxation

Rubber market closed on VAT protest

Our Correspondent

Kottayam , March 30

THE spot rubber market remained closed on Wednesday. Joining with the agitation launched by the Vyapari Vyavasayi Ekopana Samiti to protest against the implementation of VAT in the State, the rubber dealers also have decided to abstain from trading for three days up to April 1.

The NMCE futures flared up further as reports from leading overseas markets were positive. The April contract was quoted at Rs 59.10 (58.30), May at Rs 61.70 (60.60), June at Rs 62.59 (61.66) and July contract at Rs 63.42 ( 62.59) per kg for RSS 4. The volumes also improved sharply on fresh buying and short covering.

In the international scene, the April futures for RSS 3 closed better at 143.8 yen against 140.4 yen a kg at TOCOM. The same grade closed at Rs 57.44 against Rs 57.79a kg at Bangkok.

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