NMCE rejects allegations of NR price fixing

ERJ staff report (DS)

Ahmedabad, India -- India's National Multi-Commodity Exchange, NMCE has reportedly rejected allegations by India's tyre makers, that the exchange has been manipulating prices of NR.

Anil Mishra, CEO of NMCE told the press Trust of India, "There has not been any manipulation of natural rubber prices at our exchange. The allegations made by the Automotive Tyre Manufacturers Association (ATMA) are incorrect and baseless."

In November, India's Automotive Tyre Makers Association (ATMA) had alleged that the organisation was driving prices of NR upwards.

"As a result, FMC (Forward Markets Commission - India's Commodity Market regulator) had asked us to justify the price movement in natural rubber and we clarified our stand. After looking into the matter, FMC said clearly that ATMA''s allegation was wrong and without any evidence," Mishra reportedly added.

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NMCE refutes allegation of ATMA on rubber price manipulation from PTI, via MSN (India)

NMCE website

ATMA website