Experts who spoke at India Rubber Meet ruled out the possibility of NR prices going up in the near future. Dr Hidde P Smit, former Secretary General of IRSG who is reputed for his accurate predictions in rubber prices said NR prices may see an uptrend from 2020 and gain substantial recovery by 2030 when the production-consumption gap could narrow down. The price could touch USD 1.80 to USD 2 a kg by this time. He expects NR consumption to rise by 0.5 million tonnes a year in the coming years. At the same time, Jom Jacob, Senior Economist at ANRPC, said NR prices could recover from 2023 as there could be a stagnation or shrinkage in the overall area of mature rubber trees and absorption of NR surplus from previous years.
Immediate rise in NR prices unlikely: Experts
Nov 11, 2018