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Rubber Board to double new plantation areas.


Date: 14-04-2010
Subject: Rubber Board to double new plantation areas
At a time, when natural rubber consumption is likely to rise by 9% in 2010, especially with the global economy getting on tracks for the recovery path, India’s rubber production seems to be facing serious challenge of crop availability.

In the wake of the fact that India’s rubber plantations are geographically restricted to a particular region, Kerala and adjoining areas, which are currently faced with increased temperature due to global warming, there seems to be a requirement of developing alternative suitable rubber plantation locations elsewhere in India.

According to Sajan Peter, Chairman, Rubber Board of India there was a limited availability of land for expansion of NR plantation in India. “Availability of land for expansion of area under NR in the traditional rubber cultivation belt in India is extremely limited and therefore the Board has been making affairs to extend rubber cultivation in non- traditional areas for the last two decades,” said Peter, adding that extensive areas marginally suitable for rubber cultivation have been found in Northeastern states.

In an email communication with Commodity Online, Peter said, “About 4.5 lakh ha is suitable for rubber cultivation in the seven Northeastern states, of which only 90,000 ha have so far been tapped. Efforts are on to double the present area in ten years and schemes for financial support are in place for this purpose. ”

On the other hand, considering the global shortage of natural rubber, Asian rubber futures settled higher on Monday. Higher crude oil prices in Asian trading hours also provided support. Dwindling physical rubber stocks are pushing the benchmark TOCOM futures into steep backwardation. The benchmark September futures on TOCOM settled 4.5 yen higher at 329.1 yen per kg. Arrivals have fallen in the Thai central markets due to seasonal wintering and drought.

While, in India, natural rubber futures on National Multi-Commodity Exchange (NMCE) traded up at Rs.16,712 per quintal for May contract.

Meanwhile, China ran its first monthly trade deficit in six years in March, data issued on Saturday, April 10, 2010, showed a development that was quickly seized on by the nation's Commerce Ministry to argue against the need to revalue China's currency.

Looking at the gravity of the situation, talks are on that Indian government might allow truck and bus makers to freely import radial tyres, which are currently on the ‘restricted list'. In November 2008, all truck/bus radial tyre imports were put on the restricted list as a measure to protect the domestic tyre industry against alleged ‘dumping' from China.

Commenting on the issue, Peter said, “The stock of NR in our country as on 01 April 2010 is nearly 2.50 MT and as such there is no shortage of rubber in the domestic market. This high stock can easily offset any projected deficit this year. The Board is firm on its stand that no relaxation in import duty is called for at present.”

Once put under the ‘restricted list', goods can be imported only against a license from the Commerce Ministry. More recently, on February 19, an anti-dumping duty on imports from China and Thailand was imposed.

Kochi based broking firm, JRG Wealth Management Ltd quoted the Central Bank saying that the agricultural sector performed well during January 2010, according to a press release issued by the Central Bank. Tea, rubber and minor agricultural exports had showed increased export earnings. “Year-on-year, export volumes of both, tea and rubber rose by 18.5 per cent and 32.6 per cent, supported by significant increases in export prices, to US dollars 4.32 per kg and US dollars 2.79 per kg, respectively, from December 2009,” the Central Bank quoted.

Source : commodityonline.com

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