KERALA, Nov 10 (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 per cent year-on-year to 86,300 tonnes in October. India produced 89,300 tonnes 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 tonnes of natural rubber in October, a figure that has advanced nearly 114 per cent from 8,574 tonnes a year earlier. Country’s natural rubber imports gained significantly by 31.3 per cent 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 per cent 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.
Source: The Financial Express
