Rubber Board calls for collective action to arrest sliding prices
Context
Taking serious note of the continuing slide in rubber prices, Rubber Board has called for collective efforts to cope with the fall.
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The Rubber Board has introduced the updated version of mRube, the electronic market for rubber, which went live for trading in July 2022. |
Reason behind the current fall in prices
- weak Chinese demand
- the European energy crisis
- high inflation and an import glut
India’s rubber market
- India is currently the world’s fifth largest producer of natural rubber while it also remains the second biggest consumer of the material globally.
- (About 40% of India’s total natural rubber consumption is currently met through imports)
About Rubber Board
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