Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the change-wp-admin-login domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u168781334/domains/cashmycurrency.com/public_html/wp-includes/functions.php on line 6260
Growers seek status quo on import duty on natural rubber – Cash My Currency- Financial Updates | Business Blog Post | Financial Guest Posting Services

Growers seek status quo on import duty on natural rubber

Growers seek status quo on import duty on natural rubber

A tapper collecting latex from a rubber tree at a plantation in Kanjirappally, Kottayam.
| Photo Credit: The Hindu

The United Planters’ Association of Southern India (UPASI) has urged the government to maintain status quo on the import duty on natural rubber as a section of the rubber user industry has sought reduction of the import duty on key inputs and raw materials.

Ajoy Thipaiah, the Association president, said in a statement that the rubber plantation sector sustains nearly 13.2 lakh growers and provides employment to around 4.2 lakh workers. India currently has about 9.4 lakh hectares under natural rubber cultivation, with production in FY26 estimated at approximately nine lakh tonnes.

The domestic rubber prices have shown a ‘modest upward trend’ in recent months due to geopolitical developments and production shortages both, globally and domestically. However, Indian rubber prices remained subdued in comparison with international prices over the last two years. The prices of major inputs such as fertilisers, plant protection chemicals, and skilled labour have increased at 8-12% over the past decade.

Santosh Kumar, chairman, Rubber Committee of the Association, added that imports of natural rubber and compound rubber have increased considerably over the years. Of particular concern is the growing share of compound rubber imports, accounting for nearly 40% of total rubber imports. Most of this is imported from ASEAN countries duty free, he said.

Scroll to Top