Mumbai, India – India is looking into importing 300,000 tonnes of natural rubber from Thailand as it faces a domestic production shortage, according to Business Standard news report.
According to the report, India’s consumption rate is over one million tonnes of rubber and the country produces roughly half of that amount.
Also, recent figures by the Indian Rubber Board suggest that the country's natural rubber production declined by 2.5 percent to 39,000 tonnes in April while consumption grew by 5.2 percent to 85,000 tonnes.
The tire industry, according to the Rubber Board, is the largest consumer of natural rubber, accounting for 66% of the overall consumption. The rest is consumed by the non-tire sector.