Representational photo: Collected-
Metropolis Desk-
Latex and rubber sheet prices are dropping, disappointing Bangladeshi rubber growers. Over the last six months, costs for rubber sheets and latex have both decreased by Tk 10 per kilogram.
As processors profit from higher production costs, demand for all rubber products is rising while rubber prices are falling.
The local raw rubber market is estimated to be worth Tk 1,050 crore, and garden owners have spent at least Tk 2,500 crore in the enterprise, leading to the creation of 150,000 direct employment opportunities.
However, because they are unable to process latex, marginalized rubber producers do not earn fair rates.
As the cost of basic goods is on the rise, the production cost is rising as a result of labor cost increases in mountainous areas. Due to the absence of rain during the last three months, production has decreased by approximately 50 percent.
As the nation’s consumption of rubber has increased, so will the demand for it. At least 80 percent of the materials used to build sandals are produced locally, including rubber.
Meghna Group, a significant consumer and exporter of rubber goods in Bangladesh, uses only rubber that is entirely made in Bangladesh.
Due to low demand during the Covid-19 pandemic, the price of latex has decreased from Tk 250 per kg two years ago to a constant price during the past six months.
