Abstract
India is one of the natural rubber producing countries in the world. Prices of natural rubber depends upon many important factors including import policy, crude oil prices, rubber production, demand, vehicle sales, international rubber production and prices etc., In the era of globalisation, Indian market of natural rubber has been integrated with international markets resulting any changes in the international factors would have simultaneous impact on rubber prices. In the recent past, the price of natural rubber in India has fallen from all time high to lowest within a short period of time. In this regard, this paper focusing on global determinants such as prices of crude oil, USD/INR, rubber prices of Thailand and Malaysia evaluated their influence on Indian rubber prices. This study finds the significant influence of crude oil, USD INR and Rubber prices of Thailand than other factors on India rubber prices.
Highlights
Indian plantation sector played an important role in the socio- economic development of the country
The production was decreased to 562000 tonnes during 2015-16 ; the natural rubber production was increased to 691000 tonnes in 2016-17 (Rubber Board, India).Globally, Thailand is the leading producer of Natural Rubber followed by Indonesia, Malaysia and India
The results indicated that RSS4 natural rubber prices granger causes SMR 20 prices
Summary
The price of natural rubber in India has fallen from all time high to lowest within a short period of time. In this regard, this paper focusing on global determinants such as prices of crude oil, USD/INR, rubber prices of Thailand and Malaysia evaluated their influence on Indian rubber prices. This study finds the significant influence of crude oil, USD INR and Rubber prices of Thailand than other factors on India rubber prices. Acknowledgement:This paper has been prepared as a part of major research project entitled – “Rubber price uncertainty and Risk management Strategies for Small Farm holders” Sponsored by ICSSR, New Delhi. Author thankfully acknowledge financial grants received from ICSSR, New Delhi
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