DEFLATED RUBBER
Article Abstract:
The natural rubber price has slumped to Rs2,850 per quintal. The Government of India has announced a benchmark price of Rs3,405 per quintal. The price of rubber is likely to increase according to the purchase of the State Trading Corporation (STC). STC was expected to procure 20,000 tonnes of rubber in the second phase. STC was able to buy 320 tonnes against an order for 1,000 tonnes. The continuous rains have delayed the arrival of natural rubber in the markets. The Government has abolished the buffer stock policy for rubber. The floor price of rubber fell to Rs2,525 per quintal in the first half of 1998-99. The Kerala High Court has ordered the Government of India to raise the floor price of rubber in 3 months. It has asked the Government to review the policy of importing natural rubber. Rubber farmers have not sold their entire produce expecting an increase in the price of their produce. The increased rubber cess has also affected rubber price. (rk)
Comment:
India: Government has announced a benchmark price of Rs3,405 per quintal of natural rubber
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GOVT BANS RUBBER IMPORTS UNDER ADVANCE LICENCE
Article Abstract:
The government has banned the import of natural rubber under advanced licence. This is being done to stabilise the prices of rubber in the domestic market, after it fell to a seven-year low of Rs2450 per quintal for RSS four grade in the first week of February 1999. The decision will also ensure better returns for small growers who account for over 80 percent of those involved in rubber production. The Directorate General of Foreign Trade has notified that advance licence holders will have to procure their requirements from the State Trading Corporation. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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