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Demand to hike bound duty on rubber import

KOCHI: The Cochin Rubber Merchants Association has asked the Union Government to raise the bound duty of rubber to 40 per cent from the present 25 per cent to prevent imports.

The Association President, Mr N.Radhakrishnan, in a release issued here said excessive rubber imports of 1.53 lakh tonnes in the past five years was the root cause for all the problems existing in the rubber sector. According to the Rubber Board, the cou ntry had a stock of 1.88 lakh tonnes as on March 31. So the need of the hour is to reduce the existing stock level, he added.

The recent pronouncement of the industry spokesman on the necessity of imports undermines the fair demand of over 9 lakh growers to seek remunerative price. The industry wants 30,000 tonnes to be competitive on the export front. The problem will be solve d, once the Government decides to procure 30,000 tonnes indigenously and supply it at international prices, he said. -- Our Bureau