86 SdciAt s^iENTi^f price boom of 1973, the average SR price promptly increased to the tune of 60% in 1974 and in 1975 for the first time the NR spot price became lower than the SR price. - 7. For details see Rubber Statistical Bulletin^ P-36 Opcit and Hidde P Smith, p-185, Op. cit. 8. C. Suan Tan, P-21, Op. cit. 9. ibid,p-22. 10. Colin Barlow, "Prospects of Natural Rubber", Economic Record, Vol. 46, 1970. PP-482-496. It is also to be noted that the world oil and tyre industries are dominated by seven and nine transnational corporations respectively. 11. PW Alien. P.O. Thomas and B. C. Sekhar. The Techno-Economic potential of Natural Rubber in Major End uses, MRRDB, Monograph No. 7, Kualalumpur, 1974. 12 For instance, the share of SR in total rubber consumption has gone upto 73.3% in UK, 63.9% in Prance, 61.0% in West Germany and 63.5% in Japan respectively as on 1984. 13. Applying *t'test in these two cases, the correlation is found to be statically insignificant at 1 % and 5% levels of significance. 14. C. Suan Tan, p-164 Op^cit. 15. The areas which have been invaded by plastics are PVC in flooring, footwear (soles, heels) cables, garden hose and wide range of domestic fittings. PW Alien, P.O. Thomas and B.C. Sekhar, p. 14, op. cit. 16. See for instance World Development Report 1986.