Centre to raise import duty on rubber
Updated: Apr 27, 2013 04:49:48pm
Thiruvananthapuram, Apr 27 (KNN): Centre has decided to increase the import duty on rubber from Rs 20 to Rs 34 per kg considering the 'volatility' in the price of the commodity in the domestic market.
“The Commerce Ministry has sent a proposal in this regard to Finance Ministry which will soon issue a notification,” said Union Commerce and Industry Minister Anand Sharma.
Rubber prices have fallen to about Rs 160 a kg from last year's Rs 230 a kg, triggering concern among the farmers and growers.
The Kerala government has been asking for a long time to impose import duty on rubber.
"This has been the persistent demand of Kerala government and it also figured during discussion with Chief Minister Oommen Chandy during the meeting of Industries Ministers of
southern states here," he said.
The rubber growers are fearing that dumping of large quantity of imported rubber in the domestic market would lead to further fall in its prices.
Kerala contributes 90 per cent of the total domestic production of rubber. (KNN)
“The Commerce Ministry has sent a proposal in this regard to Finance Ministry which will soon issue a notification,” said Union Commerce and Industry Minister Anand Sharma.
Rubber prices have fallen to about Rs 160 a kg from last year's Rs 230 a kg, triggering concern among the farmers and growers.
The Kerala government has been asking for a long time to impose import duty on rubber.
"This has been the persistent demand of Kerala government and it also figured during discussion with Chief Minister Oommen Chandy during the meeting of Industries Ministers of
southern states here," he said.
The rubber growers are fearing that dumping of large quantity of imported rubber in the domestic market would lead to further fall in its prices.
Kerala contributes 90 per cent of the total domestic production of rubber. (KNN)
Loading...
