Indoa: Natural rubber production falls by 12% in February

Natural rubber production fell by 12 per cent during the last month to 37,000 tonnes, while imports too fell by same margin to 27,280 tonnes.

Production stood at 42,000 tonnes and imports at 30,879 tonnes in February, according to the Rubber Board data.

Natural rubber consumption declined to 82,500 tonnes in February 2016 from 83,025 tonnes in the same month last year.

In the first 11 months of the current financial year 2015-16, natural rubber production fell by nearly 13 per cent to 5,33,000 tonnes as against 6,10,000 tonnes in the corresponding period of the previous year.

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Consumption also fell by 3.4 per cent to 9,00,290 tonnes in the April-February period of this fiscal from 9,31,560 tonnes in the year-ago period.

Imports too declined to 3,93,330 tonnes in the first 11 months of this fiscal from 4,11,054 tonnes in the corresponding period of the previous year.

Stocks at the end of last month stood at 2,29,000 tonnes.

In January, the government allowed import through only two sea ports of Chennai and Nhava Sheva in order to curb inbound shipments.

“Import of natural rubber of all varieties/forms…Is allowed only through sea ports of Chennai and Nhava Sheva (Jawaharlal Nehru Port),” the Directorate General of Foreign Trade (DGFT) had said in a notification.

Domestic producers have been raising concerns over rising imports and fall in local prices.