Rubber price to shoot up
Posted on: 10 Aug 2012
Kottayam: Rubber price is likely to increase in domestic market due to less import and less stocks. The change in weather condition is also a favorable condition for rubber producers.
In June, 21,189 tones of rubber was imported but in July it declined to 17,084. Due this there is less stock in companies. In June when there were 67,000 tones of stock, it declined to 59,000 tones in July.
Due to this tyre companies will be forced to buy from domestic market leading to rise in prices. It is assumed that rain would strengthen in August and will again affect production, which will increase the demand.