Natural rubber prices spike by 12% in July
DSIJ Intelligence / 20 Jul 2017
The rubber price Touching Rs 140 per kg on Wednesday, the rubber prices were up 12% from the beginning of the month.
The supply crunch and in difference among growers drove the natural rubber prices in July in domestic markets grossly outpacing marginal pick-up in global rates.
The rubber price Touching Rs 140 per kg on Wednesday, the rubber prices were up 12% from the beginning of the month. The international price is around Rs 27 per kg lower, reported a daily.
On Tuesday, the state government gave the approval for the implementation of price incentive scheme in the current year, which ensures Rs 150 per kg for small growers having up to 2 hectares.
Rs 500 crore have been earmarked by the government for the scheme in the budget. The scheme has been popular with around 4 lakh growers registering under the scheme in the last year.
The global prices showed a tendency to rise in the last couple of days after the announcement by the consortium of Indonesia, Malaysia and Thailand that it is considering a cut in exports to hike the prices.