Growth of Natural Rubber Production: Implications for Farmers from Global Experience
Keywords:Growth, variance, production, yield, area, elasticity
Production of natural rubber has substantially increased in all major natural rubber producing countries. Increased farming of natural rubber and Â increased manufacturing of synthetic rubberÂ have created excess supply of rubber which gave the manaufacturers of rubber products an opportunity to exploit the buyersâ€™ market. This has tempted manufacturers of rubber products to make use ofÂ price fixing which Â gave rise to glut in the Â rubber market. Consequently,price of natural rubber has fallen below the average variable cost which has resulted in unprofitable subsistence farming for many thousands of small farmers in many countries. This has forced many farmers to exit from the rubber farming. The present paper is concerned with the Â study of Â the nature of growth and variance of natural rubber production in major natural rubber producing countries during the period 1961 to 2013 and its implications for farmers.
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