No cause for alarm, rubber growers told

Rubber Board chairman Sajen Peter has assured growers that there is no need for apprehension on the possibility of import of natural rubber (NR) under present circumstances.

In a press note here on Monday, Mr. Peter said the government had not made any change in import duty. It was unfortunate that baseless and contradictory reports were emanating from various quarters.

The government had approved and implemented the recommendations of the expert committee in this regard. As per the recommendations of the committee, import duty would remain at 20 per cent. However, in the face of the spurt in rubber prices in the international market it had been capped at Rs.20.46.

Mr. Peter said that on Monday, NR prices in the international market ruled at Rs.160.96 a kg. “This means, importers will have to pay at least Rs.186 a kg, under the present duty regime.”

Mr. Peter pointed out that a marginal fall in global NR production and the entry of China into the international market to buy NR resulted in the current spurt in prices.

The Rubber Board chairman called upon stakeholders to desist from creating confusion over import duty as it may harm the interests of the growers in the long run.