Natural rubber hits record ₹290 per kg in India
Business
Natural rubber just reached a record ₹290 per kilogram in India, thanks to strong demand from tire makers and limited supply.
Prices here are now even higher than in places like Bangkok (₹270 per kilogram) and about ₹20 per kilogram higher than international prices.
Indian natural rubber supply constraints persist
Despite steady imports, supply can't keep up with demand. Monthly shipments of 75,000 tons haven't eased things.
As George Valy, president of the Indian Rubber Dealers Federation, put it, natural rubber availability had not improved to the expected extent despite regular tapping.
Geopolitical issues in West Asia have also made synthetic rubber pricier, so more companies are turning to natural rubber.
Some good news: upcoming monsoon rains might help boost future supplies.