Trade sources attributed the surge to strong demand from tyre manufacturers and other industries
Kottayam : Natural rubber prices in the domestic market hit a record Rs 285.50 per kg on Tuesday, with RSS-4 grade sheet rubber climbing to a new high in Kottayam and Kochi, according to Rubber Board. The price surpassed Monday’s Rs 284.50, which had broken the previous record of Rs 284 set on Aug 1. RSS-4 was quoted at Rs 282.12 per kg internationally on Monday. Prices have increased by around Rs 100 from Rs 180 per kg a year ago, while farmers selling directly to rubber manufacturers are getting over Rs 300 per kg, he said. Rising prices were encouraging farmers who had abandoned cultivation to return, he said, calling for collective efforts to revive the sector, which accounts for 72% of India’s rubber production.
Tapping has resumed in several plantations where operations had stopped due to low prices and labour shortages, Ipe said. You Can Also Check: Gold Rate in Kochi | Silver Rate in Kochi | Bank Holidays in Kochi | Public Holidays in Kochi Stay updated with the latest Kochi news.
A rubber farmer in Kottayam, Aby Ipe, said the price rise had revived the sector. Babu Joseph, general secretary of National Consortium of Rubber Producers’ Societies, said large-scale imports of compound rubber had weakened domestic demand in recent years. Imports had more than doubled, he said, adding that higher prices were encouraging tapping and easing labour shortages.
Trade sources attributed the surge to strong demand from tyre manufacturers and other industries. Though domestic prices generally follow international trends, strong demand and supply shortages have pushed Indian rates above global levels. Production has also increased, aided by favourable early-morning weather. Rubber Board chairperson N Hari expressed hope that rubber would regain its importance in Kerala’s economy. Download the TOI App.