India's natural rubber (NR) import was more than doubled in the fiscal year 2009-10 as compared with the previous period on account of increased consumption and a 4-percent drop in domestic production, as revealed by the latest data released by the Rubber Board of India.
Imports increased by 118.7 percent in 2009-10 at 170,000 tonnes as compared to 78,000 tonnes in 2008-09, mainly due to the increased consumption by the tyre makers. Total consumption for 2009-10 was at 930,000 tonnes, a 6.8 percent growth over 2008-09.
On the other hand, exports declined by 49.4 percent to 24,000 tonnes in 2009-10 compared to 47,000 tonnes in 2008-09.
For March 2010, India consumed 79,000 tonnes of natural rubber, up from 74,000 tonnes in the same month the previous year. Domestic production and imports for the same month also increased by 50,000 tonnes and 10,000 tonnes, respectively, whilst exports stood at 5,615 tonnes as against 1,962 tonnes in the same month the previous year.
The increase in the exports of natural rubber was attributed mainly to the prevailing high prices in the international market. -
(Irco.biz)
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