Kottayam, Oct 19 (UNI) The price of Natural Rubber in the domestic market crossed Rs 10,000 a quintal today after a gap of 16 months.
The official price in the domestic market for RSS 4 Grade Rubber was Rs 10,000 per quintal today with some companies even quoting Rs 10,500.
The Natural Rubber price touched an all time high of Rs 10,692 a quintal in June 2006. It was at Rs 8,093 in June 2007 and Rs 8,709 in October 2006.
The production of Natural Rubber decreased due to adverse weather conditions and continued impact of viral fever which spread in the major rubber growing areas in Kerala.
The production decrease during April-September period was 16 per cent at around 52,000 tonne compared to last year.
The price increase was also triggered by demand from tyre companies, a Rubber Dealers Federation spokesman said adding prices could not rule above the international levels for long.
He said the price would remain steady at Rs 10,000 even as it stood at Rs 9,300 in the international market.