The Hindu Business Line : Rubber dealers' body to dabble in brokering

SINCE the rubber prices touched an all-time high of Rs 76 a kg, rubber dealers could get enough capital required for investment in rubber trade, but the profit was quite negligible, said Mr George Valey, President of the Indian Rubber Dealers Federation (IRDF).

The dealers incurred heavy loss due to the price fluctuations occurring several times during the day. To overcome this situation, IRDF intended to enter in to brokering, he added.

The small and large rubber dealers would be able to know the prices ruling in the international markets once a new set up for this started functioning in the Rubber Bhavan and they will also undertake transactions either by procuring or selling rubber.

IRDF is the only centralised agency of more than 1,000 small and large rubber dealers and it has a decisive role in giving a better and sustainable price to the small dealers who undertake rubber trade even in remote villages.

The prices are ruling better because of the increased export of rubber and rubber products. During 2005-06, 48,000 tonnes of rubber have been exported.

But the refund to exporters due from sales tax based on VAT has not been received so far. The exporters should get about Rs 10 crore from the Government on account of this, Mr Valey said. He appealed to the Government to solve the problem at the earliest.

The annual conference of the IRDF this year would be observed as the "National Rubber Dealers Meet" on January 26 at the Rubber Bhavan, Kottayam. Mr Sajan Peter, Chairman Rubber Board, would formally inaugurate the new set up for brokering at the headquarters of IRDF itself.

The Revenue Minister, Mr K.M. Mani, will inaugurate the national meet. Other participants include Mr Suresh Kurup, MP, the Minister, Mr Thiruvanchoor Radhakrishnan, Mr C.J. Jose Mohan, AGM South Indian Bank, Kottayam, etc.