In the wake of rubber price crash in the
state, Kerala, India’s biggest producer of natural rubber will buy rubber from
farmers at a premium of Rs 5 to Rs 176 per kg.
The government had entrusted three procurement
agencies -- Kerala State Co-operative Rubber Marketing Federation (Rubber
Mark), State Co-operative Marketing Federation (Marketfed) and RPS (Rubber
Producers Societies)-- for the purpose.
The spot price of the most traded RSS-4
rubber (ribbed smoked sheet) has fallen by more than a quarter so far in 2014
to Rs 12,250 per 100 kg in Kerala.
Kerala accounts for more than 90 per
cent of the natural rubber produced in the country. The price of natural
rubber, used for making tyres, hit a five-year low in India earlier this month,
following a drop in global prices.
Kerala had applied to Centre to utilise
funds from the latter’s Rs 100-crore price stabilisation corpus for rubber.
Though the production of rubber dropped drastically during Jun–Sept in the
current financial year, there is no improvement on its prices.
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