JALANDHAR (Commodity Online) : The footgear industry in Jalandhar in the Indian State of Punjab is getting jitters with rubber prices in the country heading north.
The price of natural rubber, previously traded for Rs.100/kg now hovers around Rs.245 a kilogram. In 2010 alone, the price surged by 63%. The footwear industry bemoans the price surge where 100 odd units are struggling for survival.
Punjab’s industry has stretched the consumption of rubber to 12% of total rubber produced in the country.
India is the fourth largest producer of natural rubber and the second biggest consumer of the same. China ranks first in rubber consumption.
The restrictions in place for natural rubber import and exports have unnecessarily pushed the prices up, industry players feel. They also give thumbs down to Rs.1.5 cess on rubber.
They believe that rubber should be classified as an industrial raw material rather than an agricultural commodity.
Wednesday, January 26, 2011
Rubber surge hits footwear industry in India’s Punjab
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