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India : KERALA's rubber procurement drive faces rough weather
Publish Date : 04-Feb-2015
Looks like the rubber procurement drive by tyre firms from the local market at the Government of Kerala's initiative is facing rough weather. Various rubber cultivators associations raised concern over the breach of agreement by tyre firms and Kerala Government on rubber purchase.
The associations which include UPASI, have passed a statement, saying that there was no rubber procurement taking place at the levels notified by the Rubber Board and growers are offered a price around Rs.10-12 less than the daily reference price. The purchase tax paid by the firms was to be refinanced on production of procurement bill (2.5% within 30 days) and the remaining 2.5% as an input VAT credit.
But, following the Government notification the purchase tax was waived for all grades of rubber instead of RSS alone and the daily reference price was modified as Bangkok RSS3 price plus 20%. The association noted several issues over which concerns have been raised, and said it was clearly agreed that the tyre firms will purchase RSS 4 at the daily reference price put up on the site by the Rubber Board.
