Cargo likely to be delayed owing to unavailability of ships and containers; Rubber prices to soar

Kottayam: There are concerns regarding international rubber prices as ships and containers are fully booked by Chinese exporters. Even tyre companies that have booked cargo to India are in quandary, as shipments may be delayed by a month. These factors are likely to increase the price of rubber in the Indian market. Currently, the price of RSS 4 rubber stands at Rs 203.

The United States will be imposing additional tariffs on many products from China starting August 1. Chinese traders and agencies are thus in a hurry to export such products as much as possible before this tariff hike. Accordingly, they have extensively booked ships and containers to Chinese ports. 

Due to this, tyre companies are facing difficulty in procuring rubber from Southeast Asian countries.