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Wednesday, Feb 13, 2002

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Traders welcome move to monitor rubber exports

Our Bureau

KOCHI, Feb. 12

THE Cochin Rubber Merchants Association has welcomed the Government's decision to monitor the transactions regarding export of rubber to prevent any misuse of subsidies.

The Association President, Mr N. Radhakrishnan, in a release issued here, said some exporters were trying to book orders for rubber at much lower prices than the present international prices of $620 per tonne (Rs 30.25 per kg) f.o.b. Port of shipment, armed with the subsidies of Rs 3.50 each announced by Union and State Government. He said subsidy was granted to purchase rubber at the statutory minimum prices of Rs 32.09 per kg for RSS IV grade when the indigenous prices were around Rs 26 per kg and the international prices were around Rs 25 per kg. The international prices have now gone up by about Rs 5 per kg and the market is likely to go up further due to imposition of export restrictions by Thailand, Indonesia, Malaysia, he said.

He pointed out that exporters should not misuse the Government subsidy and pass on the benefit to the international buyer.

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