Mumbai, May 10: The All India Rubber Industries Association (AIRIA) has welcomed the government's decision to suspend futures trading in natural rubber for four months in view of the runaway prices of natural rubber.
The Association had been pursuing with the governemnt for removal of natural rubber from the list of commodities eligible for futures trading. Mr M F Vohra, president of AIRIA, said futures trading should only be allowed for such commodities which are available in the country in abundance and the entire quantity cannot be consumed indigenously. Natural rubber is in any case in short supply and easy availability of natural rubber has become a problem for the industry, he has pointed out.
The Association has urged that the temporary ban on futures trading of natural rubber should be made permanent or at least should continue till the supply situation of natural rubber is considerably eased out and surpluses are available.