ERJ staff report (TP)
New Delhi – Domestic production and consumption of natural rubber dropped during April, according to the provisional estimates of India’s Rubber Board, reported George Joseph for Business Standard.
The data showed there was a sharp rise in the import as prices in the overseas markets have become attractive to the rubber-intensive manufacturers.
According to the board’s estimates, India imported 26,445 tonnes of rubber in April this year, as against 14,396 tonnes in April 2013.
During 2013-14, India imported 325,190 tonnes, which was an all-time high.
Unnamed “experts” told Business Standard going by the current trend, rubber imports would be on the higher side in the current financial year.
Local production of natural rubber dropped 3.8 percent in April at 51,000 tonnes, as against 53,000 tonnes last April.
Consumption also dropped to 81,500 tonnes, as against 82,980 tonnes in April 2013.
Rubber exports were a “mere” 28 tonnes in April as against 1,538 tonnes in April last year, the Rubber Board data stated.
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Full story from Business Standard