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Thursday, March 23, 2023

India’s January rubber imports drop 4.8 percent as demand softens: Board

MUMBAI (Reuters) – India’s natural rubber imports in January eased 4.8 percent from a year earlier to 39,997 tonnes, the state-run Rubber Board said on Wednesday, as local consumption fell due to weak demand from tyre makers.

The country’s production last month eased 1.4 percent from a year ago to 72,000 tonnes, while consumption dropped 2.4 percent to 97,000 tonnes, the board said.

India’s imports between April to January jumped more than 30 percent from a year ago to 489,085 tonnes, it said.

India imports natural rubber mainly from Thailand, Indonesia, Vietnam and Malaysia.

“Tyre companies are cutting purchases due to a slowdown in auto sales,” said a rubber dealer based at Kochi in the southern state of Kerala.

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