Rubber Prices Witness A New Record - Aug 29 , 2008

On August 28, due to speculative holding back of stocks by sellers and firm overseas cues from key Asian markets like Tokyo and Bangkok, the spot rubber prices went up. And the benchmark RSS-4 grade has touched a new record high of Rs 142 a kg.

The previous high for RSS-4 grade was Rs 141.50 on August 1. Although the board had placed the price of the commodity at Rs 141.50 for that day, most traders said they sold the commodity at Rs 142 then. Overall supply of the commodity is weak due to growers holding back stocks as well as production in August being disrupted by rains in growing areas of Kerala.

NABARD Sanctions Rs 144 Cr To Kerala

Thiruvananthapuram: The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 144.33 crore to the Kerala Government for implementing rural infrastructure projects.

The assistance from NABARD's Rural Infrastructure Development Fund XIII (RIDF - XIII) will be used for 63 projects, including the Chamravattom Multi-purpose Project (regulator-cumbridge) in Malappuram district involving a loan of Rs 95.12 crore and being implemented by the Water Resources Department.

The bridge coming up across Bharathapuzha will have a length of 978 metres with a span of 12 metres and having 70 shutters. The project, on completion, is expected to benefit an area of 3,235 hectares spread over 16 villages with a total population of around 43,000, according to Bhawar Puri, Chief General Manager, NABARD.

The project, the biggest yet sanctioned by NABARD to the State, will also reduce the distance between Kozhikode and Ernakulam by 40 km. Besides, the water body formed by the project is envisaged to be used for fish culture, water sports and cultural tourism.

OTHER PROJECTS

The other projects sanctioned include 13 rural roads and three bridges in Alappuzha, Idukki, Palakkad, Kollam, Kottayam, Thrissur, Malappuarm, Ernakulam and Kannur districts. The projects involve a total RIDF loan of Rs 35.44 crore and will be implemented by the Public Works Department.

• Quarterly results of corporates: Check out

The projects will generate substantial non-recurring employment, help save vehicle operating costs and ensure better connectivity to 62 villages.

The NABARD assistance will also cover 42 minor irrigation projects (including 13 in the distressed district of Palakkad) involving an RIDF loan of Rs 7.65 crore. The projects will bring 1,766.5 hectares of land under irrigation and help improve the productivity of various crops like paddy, banana, coconut, arecanut, pepper, cardamom, coffee and vegetables.

All the 63 projects now sanctioned put together are expected to generate non-recurring employment of around 31.73 lakh mandays. During the current year, NABARD has so far sanctioned 397 projects for a total loan of Rs 283 crore under RIDF - XIII. Further, the cumulative sanction of assistance to the Kerala Government by the bank under RIDF-I to RIDFXIII had gone up to Rs 2,098.89 crore for 3,088 projects.