Natural rubber imports soar by 81.2%

Natural rubber imports soar by 81.2%

New Delhi: Natural rubber imports jumped by 81.2% to 18,148 tonnes in October on increased demand from tyre manufacturers and disruption in domestic production due to heavy rains, the Rubber Board said on Thursday.

The total import of natural rubber stood at 10,011 tonnes in October 2009, the board said in a statement.

Disruption of production in Kerala, key rubber growing state, has led to a shortage to tune of 30% which was met through imports, Indian Rubber Dealers Federation Treasurer Ibrahim Jalal said.

The import of natural rubber during the first seven-month (April-October perido) of current fiscal grew marginally to 132,724 tonnes against 132,106 tonnes in the comparable period last fiscal.

The board said that surge in import took place after June, 2010, as the international prices of natural rubber remained lower than the domestic price from that month.

The consumption of natural rubber in the domestic market grew by 4.5% to 81,500 tonnes in October,2010 on increased demand from the tyre manufacturers.

Consumption of natural rubber stood at 77,950 tonnes in the corresponding period last year, the board said.

The aggregate consumption of the natural rubber in the first seven-month (April-October period) of current fiscal grew by 3% to 550,550 tonnes against 534,315 tonnes in the comparable period last year.

The board said that consumption mainly grew on increase in demand from tyre manufacturer, whose demand for the commodity grew by 5% in October 2010.