Rubber producers to become participants in futures market

Kochi, May 31 (UNI) The Commerce Ministry was taking steps to make rubber producers the primary partcipants in the futures market in rubber.

Talking to reporters here today, Union Minister of State for Commerce Jairam Ramesh today said ''presently the futures market in rubber was operated by speculators and this has to change.'' Mr Ramesh said he had directed the Rubber Board Chairman to make rubber producers the primary participants of the futures market in rubber as there were around 2,000 rubber producers' associations in Kerala.

'' The situation will also be brought to the notice of the Forward Market Commission and the high-power committee headed by Dr Abijit Sen to review the functioning of the futures market in the country,'' he said.

Mr Ramesh said replantation of 34,000 hectare of land at the cost of Rs 680 crore would be launched in September this year.

The Minister said the Rubber Board should look beyond Kerala and enter states like Tripura and Assam.

Referring to the two spices parks coming up in Kerala, Mr Ramesh said the paper work for acquiring 200 acres of land for pre-processing and value addition parks was undertaken.

UNI