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Wednesday, August 17, 2022

India’s October natural rubber imports jump 81 per cent year-on-year

MUMBAI: India’s natural rubber imports rose 81.3 per cent to 33,486 tonnes in October from a year earlier, the state-run Rubber Board said on Tuesday, as tyre makers increased purchases from overseas to gain from lower prices there.

The country’s output eased 7.3 per cent on year to 83,000 tonnes, the Board said in a statement.

India, the world’s fourth-biggest producer of natural rubber, imports from Malaysia, Thailand and Indonesia.

Tyre firms have stocked up rubber at low prices, locking in healthy margins that have helped their share prices outperform those of global competitors over the past month.

Source: India Times

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