MUMBAI (Commodity Online): India unlikely to face shortage of natural rubber in 2010-11 due to the availability of 245,000 tons carry forward stocks, according to the Rubber Board of India.
The Board also rejected the demand for duty-free import of natural rubber by consuming industries in view of the sufficient carry forward stocks.
The stock considered enough to help tide over the gap of 85,000 tonne between the production of 893,000 tonne and demand of 978,000 tonne as per the initial estimate prepared in the 12 months ending in April 2011.
Meanwhile, country’s synthetic rubber production from April 2009 through February 2010 rose 12.6% from a year earlier to 98,280 metric tons, the state- run Rubber Board said Friday.
Consumption of synthetic rubber during the period increased 17.6% to 313,405 tons due to a rise in demand from tire makers.
U.S. imports of technically specified natural rubber rose 8.6% in March from the previous month, and was up 15.5% from the previous year, the Commerce Department reported Wednesday.
Malaysia's natural rubber production in March was 70,318 metric tons, 48% higher than a year earlier but still lower than the 16-month high recorded in January, as seasonal wintering between February and April slowed latex output.
Mar 10 total 59,337tonne v/s Feb 10 total 54,337tonne Natural rubber stocks in Japan stood at 5,610 metric tons April 20, down 3.9% from 5,835 tons April 10, according to data issued Thursday by the Rubber Trade Association of Japan. Natural latex stocks fell to 79 tons from 103 tons, while synthetic rubber stocks fell to 1,786 tons from 1,963 tons.
(commodityonline.com)
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