TRENDS IN FARM INCOME AND WAGES IN THE ERA OF MARKET UNCERTAINTY : An exploratory analysis of natural rubber sector in Kerala

Abstract

This paper has been contextualised to capture the long-term trends in the real values of price, farm income and wages in Kerala’s natural rubber sector in the era of market uncertainty. The analysis succinctly revealed that despite the pivotal role of the rate of growth in productivity in sustaining the tempo of growth in farm income during the 28 year period under review, the outcome during the post-reforms phase had been influenced more by the trends in unstable prices. The emergence of unstable prices as the major determinant of farm income in the postreforms phase poses serious policy challenges to the rubber plantation sector in the state.