Following the Rubber Board's announcement of a ₹5 per kg incentive to promote rubber exports, the state government increased the support price for rubber by ₹10, as declared by Finance Minister K N Balagopal during the state budget presentation. The Rubber Production Incentive Scheme (RPIS) has been revised to offer rubber growers a basic price of ₹180 per kg, up from the previous ₹170. This initiative aims to cushion rubber farmers from market price fluctuations by compensating the difference between the market price and the guaranteed price.
To facilitate the enhanced support price under RPIS, the state government has earmarked ₹24.48 crore to clear pending dues, benefiting over 150,000 small and marginal rubber farmers. This financial support is designed to ensure that growers receive a stable income from their rubber production, encouraging sustained agricultural activities and providing economic stability to the farming community in the region.
As the parliamentary elections approach, the rubber industry, especially in central Travancore, has become a significant point of political engagement. Political parties like the UDF, LDF, and NDA are focusing on the rubber sector in their campaign strategies to win the support of rubber cultivators. Additionally, the BDJS has advocated for increasing the minimum support price of rubber to ₹250, seeking further support from the Union government to bolster the rubber industry's growth and sustainability.