Rubber price crosses Rs 160, first in three years
Kottayam: For the first time in three years, the cost of rubber crossed Rs 160 per kilogram. RSS-4 rubber was priced at Rs 163/kg on Tuesday.
The high cost is attributed to the effect of leaves abscission in rubber plants in Thailand on production and the high cost in international market.
In Thailand, there has been a rare abscission disease that has affected leaves resulting in less availably of rubber in international markets. In the coming days, the availability will decrease further, experts opinioned. In Bangkok, rubber is at Rs 183.43 per kilogram.
In was in 2017 February, the rubber price reached Rs 160/kg. The high price also resulted from the high vehicle sale in the country. In June 2020, the central government restricted the import of rubber from China. Following this, the tyre companies in India began buying rubber from domestic markets. Last month, a decrease of 25,000 tonne rubber import was recorded in India.
The minimum support price for rubber fixed by the government should be increased from Rs 150 to Rs 200 per kg, demanded rubber dealers federation president George Valy and general secretary Biju P Thomas.