STOCK MARKET BSE NSE

Rubber Trade: Government to Check Unfair Practices

Published: 20th February 2015 06:03 AM  |   Last Updated: 20th February 2015 06:03 AM   |  A+A-

 THIRUVANANTHAPURAM:The government has decided to checkmate unfair trade practices, including underpricing, pursued by some rubber dealers much to the chagrin of rubber growers and turning the package announced in December last going off the target objective of ensuring a better price for natural rubber (NR) produced in state.

 Towards this end, the government is toying with the idea of going in for rubber procurement by various agencies under it and entering into direct supply contracts with tyre companies. A scheme to lift RSS-5 grade sheet rubber at higher prices has also been mooted and Rubber Board has been asked to hold discussions with tyre companies.

 Chief Minister Oommen Chandy told the post-Cabinet briefing here on Wednesday that two tyre companies have even written to the government recently, stating that many dealers are cheating growers by paying only a lesser price, though the consuming industries are paying a price 20 per cent higher than the daily Bangkok rates for  RSS-4, published by the Rubber Board, as per the agreement inked on December 18 last year.

 The State Government has also waived the  5 per cent purchase tax for tyre companies till March 31 this year.

  The Cabinet meet discussed the scenario in which a few rubber dealers and suppliers are amassing profits by offering a lower price than the rates offered by tyre companies, Chandy said.

Stay up to date on all the latest Kerala news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp