India’s October natural rubber imports rose nearly 114% year-on-year to 18,326 metric tons mainly due low production.
KERALA, INDIA (Commodity Online): The world’s fourth biggest natural rubber producer India’s imports more than doubled in October this year due to low output.
According to the country’s Rubber Board data, natural rubber production dropped by 3% year-on-year to 86,300 metric tons in October. India produced 89,300 metric tons of natural rubber a year earlier.
The production dropped mainly due to the heavy rains in Kerala, southwest India, reduced the tapping of rubber trees in October. India’s natural rubber output peaks during October-January and starts falling from February, said the state run Rubber Board.
India imported 18,326 metric tons of natural rubber in October, a figure that has advanced nearly 114% from 8,574 metric tons a year earlier. Country’s natural rubber imports gained significantly by 31.3% year-on-year to 130,966 tonnes in the first seven months of the financial year that started on April 1st, the agency noted.
India’s natural rubber consumption advanced by 8.5% year-on-year to 83,000 tonnes in October this year, said the Rubber Board.
The south Asian country imports natural rubber mainly from Thailand, Indonesia, Malaysia and Vietnam.
Thailand, Indonesia and Malaysia account for about 70% of world’s rubber production, used to make tyres and gloves. Thailand is the world’s biggest natural rubber producer with an output of about 3 million tons annually, Indonesia produces over 2 million tons and Malaysia about 1 million tons.
Thailand is also the world’s largest exporter of natural rubber and it’s production accounts for roughly one third of the global supply.
Source: Commodity Online
