Rubber price gets an increase

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Rubber farmers in Western province will now have their product paid at K2.00 per kilo following the inaugural roll out of up to K900,000 in Price Support Program by the Rubber board.

With their share of K2 million from the K50 million allocated for Price Support, Rubber is the first commodity to roll out this program: These monies have been presented to Western Province’s leading rubber exporter, North Fly rubber Ltd.

Minister for Agriculture and Livestock Hon. John Simon, DAL secretary Daniel Kombuk and Rubber board chairlady Josephine Kenni were welcomed and acknowledged by Western Province Governor Taboi Awi Yoto at the Kiunga Provincial Headquarters for the presentation.

Governor Awi Yoto acknowledged rubber board PNG under the leadership of Minister Simon, highlighting the fact that rubber in the Western province was a livelihood and the intervention for the price support program is a timely and much welcomed development.

Minister Simon also highlighted the current state of imbalance in the income earning system in the country which he says can also be a downside in the growth of the economy.

“Just about 10 percent of the country’s population are either in the public service and or employed in the private sector, while the 85 percent of the population are in Agriculture. If the larger proportion of the Population is supported through such interventions as Price Support, there is a favorable outcome”, he said.

The Rubber Industry has now exhausted the K2 million allocated, with K1.8 million for price support and subsidy and the remaining K200,000 as Intervention – a part payment for the review of the Rubber Act.

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