The price of rubber has increased in the Indian markets after a time of four years because there is a very high demand from China and the major producers are facing some problems.
The major producers are Vietnam, Indonesia.
The rise of rubber prices has nothing in relation to the domestic markets.
The produce of rubber in Vietnam is facing many issues because of the continuous heavy rains and in some other countries as well like Indonesia, Malaysia which are the main suppliers of rubber.
Coronavirus has also led to many bad things and we know that demand is rising in China but no one knows if the consumption is increasing.
Rajiv Buddhraja, Director-General, Automotive Tyre Manufacturers Association (ATMA) said ” china demands rubber and many other products and generally buy them in large quantities.”
China again started the product in April which is like months before India and they are on a business spree from then.
India produces seven lakh tonnes of rubber but they can easily produce nine lakh tonnes and the reason for this is lower prices and high costs.
Kerela is surrounded by heavy rains that is why there a production is a little low but with time its expecting to pick up.
Check all Recent News Updates Here
|Today’s News Update|