The Hindu Business Line : `Rubber rising on shortage'

KOTTAYAM: The shortage of rubber and the strong interference of the rubber dealers put the rubber prices above the international level in the domestic market, said a press release issued by the Indian Rubber Dealers Federation. The 102nd Board Meeting of the Federationreviewed the current market situation in the State.

In a memorandum to the Finance Minister, the Federation said the introduction of tax for the withdrawals with effect from first June would bring hardships to the agriculture sector, as it would affect the payment of ready cash for the purchases from growers. Therefore they demanded that the issue should be reviewed.

Along with the spurt in rubber prices, unauthorised smuggling has begun in various places. The Federation decided to react strongly to such malpractices. Mr George Valy, President presided. Mr Jose Mamparambil, Mr E.T. Varghese and Mr C.J. Augustine spoke. The meeting also decided to convene annual general body meetings of unit associations before 30 August 2005.

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