Natural Rubber Prices

A letter send to Google Groups like FEC and Trivandrum Bloggers

Prices for the month of July 2010: http://spreadsheets.google.com/pub?key=0AjJUDQUJ7CS-dG9jTldCTzVHbXlEbU50WFE1ZENUT0E&hl=en&gid=5

The average price of Latex 60% drc changed at a higher level of Rs. 20375/Quintal. Can anybody say how it happens?

The leaders of Political Parties are against Import of Natural Rubber of One Lakh Tonnes at 7.5% Import Duty. But this import will be a reason for the price hike of International Price. The Domestic prices were higher at earlier month with a difference approximately Rs. 30/Kg when Indian Rubber Board Published the highest month end stocks. The Price difference between RSS 4 and Vyaapari Vila of Manorama (Which is not covered by the Board or on any Govt records) is varying according to their plans of the Biggest Manufacturer in India. Eg. Prices of June 2010 with a difference approximately Rs. 5 per Kg and Aug 2010 with a difference above Rs. 15 per Kg on many days of the month. If a manufacturer can play a game on prices where grading under the pretext of visual grading system we can imagine what will happen.

My conclusion: If the month end stock published by the Rubber Board is higher through continuous Missing Figures and import in front of the season of peak production to bring the prices down to export on lower prices (by the co-operative societies to reduce the profit share to the Govt of Kerala) to bring down the International prices can’t fulfill.  Because RTI Act 2005 is available for us to get the details of Export which is controlled by the Rubber Board.

Sorry for my poor English.

WTO was a failure to reduce the prices of Agricultural Commodities and now the time is for ASEAN. Just wait and see what will happen.

See the compiled study by a farmer on Indian Rubber Statistics Click here >>>>

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One response to this post.

  1. Anand Sharma rules out cut in import duty on rubber
    The Union Minister for Commerce and Industry, Mr Anand Sharma, has ruled out cut in the import duty on rubber from 20 per cent, said Mr Sajen Peter, Chairman of the Rubber Board.

    The Minister gave this assurance to a team of MPs from Kerala that called on him this morning.

    EXPERT PANEL

    However, he said that the Government would be implementing the recommendations of the expert panel constituted under the directive of the Delhi High Court to look into the demands raised in a petition by rubber consuming organisations.

    The expert panel had recommended that the import duty be retained at 20 per cent, but a maximum ceiling of Rs 20.46 be fixed which is based on the average domestic price of rubber during the last three financial years.

    The recommendation was made by the expert panel after hearing the views of the organisations and submissions by grower organisations.

    This recommendation was welcomed by the Rubber Board meeting held on July 31.

    PHASED MANNER

    The Minister also said that import with the duty cap would be allowed only in a phased manner in lots of 25,000 tonnes.

    Dr Rahul Khullar, Union Commerce Secretary, and Mr Sajen Peter, Rubber Board Chairman, too attended the meeting with the Commerce Minister.

    Reply

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