GROWERS SHED LATEX TEARS IN GOD'S OWN COUNTRY
Article Abstract:
Rubber growers in Kerala have been hit as the price of the commodity has crashed due to poor demand over the past several months. Rubber, which was trading at Rs75 per kg since 1996-97, has slumped to Rs24 per kg now. Kerala's production alone accounts for 92 percent of India's total rubber production. Dry rubber threads, which cost Rs40 per kg earlier, now cost Rs12. About 20 percent of arable land in Kerala is used for rubber cultivation. Nearly 80,000 families, particularly small farmers, depend on rubber production. Ninety percent of Kerala's rubber production comes from small farmers having 1-2 acres. Farmers had even destroyed other crops to grow rubber. A few others had taken loans from banks for cultivating rubber. While the daily production is around 2,500 tonnes, only 1,300 tonnes are sold per day. The unsold stock during November and December 1998 was 50,000 tonnes. Recession in the automobile industry has hit the growth of the tyre sector. Some tyre companies are importing radial tyres and a few others have reduced their production resulting in lesser consumption of rubber. (um/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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NITISH DRIVES UP FREIGHT, DRAGS PRICELINE ALONG
Article Abstract:
India's minister for Railways, Mr Nitish Kumar, has raised freight rates by 4 percent across the board on all commodities and increased the second-class sleeper and upper-class fares to raise an additional Rs900 crore in 1999-2000. The Railway Budget for 1999-2000 states that the increase in freight rates will bring in Rs700 crore while the hike in passenger fares will contribute Rs200 crore. The Budget proposals, which are effective from April 1, 1999, has not raised the fares for second class ordinary mail, express passenger and suburban traffic. (khr)
Comment:
India's minister for Railways, Mr Nitish Kumar, has raised freight rates by 4 percent across the board on all commodities and increased the second-class sleeper and upper-class fares to raise an additional Rs900 crore in 1999-2000.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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