Rubber price crosses ₹150, growers joyous
Mangaluru, Oct 28: Rubber growers are joyous after about one and a half years as the price of rubber has seen an upward trend in the last few days crossing ₹150 mark.
On October 28, Ribbed Smoked Sheet (RSS 3) grade rubber crossed 200 in the international market.
In Domestic Market (Kottayam) also the price has increased drastically (of RSS 4).
While it was ₹ 11,800 on July 1 (₹ 118), it increased to 13,350 (₹ 133 per kg) on October 1, it has increased to ₹ 15,600 (₹ 156)on October 27.
According to experts rubber prices have crossed ₹150 a kg after four long years.
The reason is said to be a growing demand in China and also supply problems faced by major producers like Indonesia, Cambodia, and Vietnam.
In June 2019, the rubber price stood at 15,500. However, in the later days, it continued to fall. But now after one and a half years, the rate has crossed ₹15,500.