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Rubber production up as prices improve

Rubber production up as prices improve
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First Published: Tue, Sep 02 2008. 11 45 PM IST
Updated: Tue, Sep 02 2008. 11 45 PM IST
Mumbai: The nation’s natural rubber production rose 28.1% in the first five months of the financial year that began on 1 April, as planters increased tapping on better prices, an official of the Rubber Board said.
Total output of natural rubber in April-August was 312,565 tonnes, compared with 244,070 tonnes a year ago, said an official, who did not wish to be identified. “Growers are now tapping more as prices are ruling atan all-time high.”
Natural rubber price has risen about 37% in the last five months, according to data available with the Rubber Board, a trade promotion body. It touched a recordhigh of Rs142 per kg on28 August.
Exports during the period jumped 64.5% to 26,704 tonnes on increased production, the official said. However, the trend may not sustain as prices in other countries are ruling lower than India, he said.
Rising supplies sloweddown imports, which fell 24.6% to 26,508 tonnes during the period.
Total rubber stocks at the end of August stood at 108,600 tonnes, up from 82,607 tonnes a year ago.
India is the world’s fourth largest rubber producer.
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First Published: Tue, Sep 02 2008. 11 45 PM IST
More Topics: Rubber | Production | Exports | Rubber Board | Price |