MUMBAI - Rubber production rose 15.5 percent to 59,500 tonnes in April on summer rains and as record prices prompted farmers to increase tapping, the Rubber Board said in a statement on Tuesday. In April 2009, the country had produced 51,520 tonnes of rubber, it said.
The spot price of the most traded RSS-4 rubber (ribbed smoked sheet) hit a record high of 16,950 rupees per 100 kg in Kottayam, Kerala, in April, data from the Rubber Board showed. The consumption also jumped in the month by 7.5 percent to 79,000 tonnes on strong demand from tyre makers; however imports fell by 41 percent to 6,128 tonnes due to higher prices in global market, it added. India's rubber production is likely to rise by 7.5 percent to 893,000 tonnes in 2010/11 helping reduce costlier imports, a senior Rubber Board official said last month.
(economictimes.indiatimes.com)
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