ERJ staff report (TP)
New Delhi – Indian natural rubber exports fell by 59 percent to 480 tonnes in October this year due to a fall in domestic production, reported The Financial Express.
Exports of rubber in October 2012 stood at 1,145 tonnes, according to Rubber Board data.
Total exports of rubber during the April-October period in the current year have fallen by 54 percent to 3,975 tonnes against 8,611 tonnes in the same period a year ago.
Production of natural rubber dropped by 7.3 percent to 83,000 tonnes during October in the current year against 89,500 tonnes in the same period last year.
Similarly, consumption of natural rubber has also come down by 3.57 percent to 80,500 tonnes in October this year from 83,485 tonnes last year.
Tire firms take about two-thirds of domestic rubber demand, and natural rubber makes up more than 40 percent of the cost of a tire.
Rubber production in India peaks from October to January and Kerala accounts for more than 90 percent of natural rubber production.
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Full story from The Financial Express