Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. India rubber price surges 17 per cent >
  5. India rubber price surges 17 per cent

Online Export Import Data Search

Complete Training Video : Click Here

India rubber price surges 17 per cent.


Date: 12-06-2019
Subject: India rubber price surges 17 per cent
It seems rubber growers have got their moment in the sun, as the Indian price of natural rubber (NR) jumped 17% in 45 days. The price of premium grade RSS-4 sheet has touched Rs 150 per kilo for the first time in the past two years, though the supply situation may not allow a matching market realisation.

“The last time we saw the `150 per kilo price for RSS-4 in Kottayam market was March 21, 2017. It was just `128 per kilo in last week of April. Price has been shooting up faster than our best expectations,” Siby Monipally, secretary, Indian Rubber Growers Association (IRGA), told FE.

Rubber contracts for December in TOCOM were slightly lower at `13,122 per 100 kg last week. Meanwhile, June contract — the busiest in ICEX rubber futures — has fetched `15,842 per 100 kg on Monday, with nearly 4% weekly surge.

One reason for the domestic price surge is that the tyre firms have realised that factoring in the landing costs, importing NR currently could hurt them by at least `170 per kilo. But, then, May has been a lean season and carry-over stocks are limited. Last year, due to the humongous August floods in Kerala and the subsequent massive outbreak of abnormal leaf fall disease, NR production was 6.6% lower than that in the previous fiscal. By Rubber Board’s provisional estimates, the production in 2018-2019 was 648,000 tonne, against 694,000 tonne in 2017-2018.

Rajiv Budhraja, director-general, Automotive Tyre Manufacturers Association, had expressed anxiety at nearly 48% dependency on NR imports, while India is an active rubber-producing country. As the monsoon set in this week, the tapping activity in rubber estates has slowed down.

Rubber Board chairman KN Raghavan has called upon farmers to set up rain guards and get cracking on tapping.

“However, the prolonged duration of low price realisation has been a vicious cycle for farmers. Often tapping the latex from the trees had not been worth the high wage costs,” said Josekutty Antony, president, Rubber Nursery Owners’ Association. Rubber farmers may take a while to recover their confidence and diligently engage in replantation of old and ailing trees.

Source: financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-06-2019
Notification No. 42/ 2019-Customs (N.T.)
Customs (Supplementary Notice) Regulations, 2019

Date: 18-06-2019
Notification No. 43/2019-Customs(N.T.)
Proper officer for Customs (Supplementary Notice) Regulations, 2019

Date: 17-06-2019
Circular No. 16/2019-Customs
–IGST refunds- mechanism to verify the IGST payments for goods exported out of India in certain cases- reg.

Date: 15-06-2019
Policy Circular No. 23/2015-20
Non-requirement of submission of Hard copy of application at RAs for issue of Advance Authorisation (AA) & EPCG Authorisation

Date: 15-06-2019
ECA Circular No. 24
Administrative Review of Adjudication Orders passed by subordinate officers - regarding.

Date: 15-06-2019
Notification No.16/2019–Customs
Seeks to increase the tariff rate of customs duty on lentils, boric acid and laboratory reagents by amending First schedule to the Customs Tariff Act, 1975 under emergency powers under section 8A of the Customs Tariff Act.

Date: 15-06-2019
Notification No.17/2019-Customs
Seeks to further amend notification No. 50/2017-Customs dated 30.06.2017 to implement the imposition of retaliatory duties on 28 specified goods originating in or exported from USA and preserving the existing MFN rate for all these goods for all countries other than USA.

Date: 14-06-2019
Notification No. 41/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

Date: 14-06-2019
PUBLIC NOTICE NO. 11/2015-2020
Waiving off the requirement of destruction certificate from excise/custom authorities for the unutilised duty free imported material in case of imports from unregistered sources with pre-import conditions.

Date: 14-06-2019
Notification No. 15/2019-Customs
Seeks to further amend notification No. 50/2017-customs dated 30th June 2017 to postpone the implementation of increased customs duty on specified imports originating in USA from 16th May, 2019 to 16th June, 2019.



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001