Summer rains: Rubber prices rise, rubber production hits record high

Kottayam : Record rubber production in the country during the last financial year. Rubber prices are on the rise due to heavy summer rains. From April 2021 to March 2022, India produced 7.75 lakh tonnes of rubber. According to figures released by the Rubber Board, this is a recent record for rubber production. Production was estimated at 7.15 lakh tonnes in 2020-2021. The average rubber price last year was Rs 171 per kg. Meanwhile, it went up to Rs 194. The lowest is up to Rs 160 only.

“With the rise in prices, more and more farmers are returning to farming,” said Rubber Board Executive Director Dr. KN Raghavan said. ‘The plantation adoption scheme started by the Rubber Board has helped to resume tapping in abandoned plantations. Tapping began with the adoption of 4,000 acres. The plan is for the board to take care plantations that do not have workers to tap latex. Rain guarding of more plantations has also increased production, ”he said.

With the onset of summer rains, rubber prices started rising again. 172 per kg yesterday. It had fallen to Rs 171 the previous day. The increase was due to lower tapping in the rains and lower rubber inflows into the market. The board estimates that the price will reach Rs 180 if this situation continues.

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