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Thursday, August 11, 2022

India: Call for ban on rubber imports

KOCHI, FEB 3:

Given the declining prices of natural rubber in the recent period, the Indian Rubber Growers Association has demanded the suspension of rubber imports through all channels for a period of one year. It has also asked the authorities concerned to redefine the policy on import-related exports.

Siby J. Monippally, President of the association, pointed out that importers, who import through duty free channel, delay their export commitments unreasonably to an extent of three years, which was adversely affecting the balance in the industry.

The association has also submitted a memorandum to the visiting Union Defence Minister A.K. Antony in this regard.

It has been pointed out in the representation that 2.70 lakh tonnes of rubber were imported till now, where 65 per cent was imported through duty-free channel (duty exemption entitlement certificate). It is pertinent to note that the deficit of natural rubber in India is only 70,000 tonnes.

If this trend continues, three lakh tonnes of rubber are expected to reach India through import. This import is directed towards artificially creating supply in the market. Therefore, it is not in the interest of rubber industry and farmers.

The memorandum also demanded that the standard input and output norms for duty-free import should be revisited.

The Hindu

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