Financial Daily from THE HINDU group of publications
Thursday, Jul 18, 2002
Financial Daily from THE HINDU group of publications Thursday, Jul 18, 2002 |
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Agri-Biz & Commodities
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Rubber Centre clears export of 20,000 t rubber Aravindan
KOTTAYAM, July 17 THE Union Government has approved a proposal to export 20,000 tonnes rubber at a cost of Rs17.40 crore. The Rubber Board will be the facilitator for the export while the Rubber Marketing Federation will carry out the original operations. This plan has been put in effect with a view to reducing fluctuations in rubber prices by regular export of rubber. Rubber prices were on an upswing during the first week of last month when they reached a four-year high. They later dipped back to their normal levels. On Saturday, sheet rubber RSS-4 was quoted at Rs 39.50 a kg. Export becomes imperative to prevent import and maintain a balance between demand and supply, said the board sources. Though the controls on rubber export were lifted as early as in 1992, till date, Indian rubber was unable to prove its presence in the international market, they said. With this in mind, the Rubber Board has drawn up detailed programmes to give wide publicity to the quality and availability of Indian rubber in foreign countries. The board is now implementing a scheme to help exporters with financial assistance to modernise the processing facilities. The board implemented a scheme for Rs 9.20 crore last year to give financial assistance for exports.
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