New Delhi, Apr 22 (PTI) Natural rubber consumption is expected to increase to 9.77 lakh tonnes in the 2011-12 fiscal, around three per cent increase from the last fiscal, as a result of growing demand from the automobile sector, Rubber Board Chairman Sheela Thomas said.
India had consumed 9.49 lakh tonnes of natural rubber in the previous fiscal largely on back of growth in tyre production in the automobile sector, which grew by 23 per cent.
"The consumption is definitely increasing with growth in the automobile sector and in the 2011-12 period we are expecting an increase in demand from tyre manufacturing industry," Indian Rubber Dealers Federation President George Valy told PTI.
The natural rubber production for 2011-12 is being anticipated at 9.02 lakhs tonnes, Thomas added.
According to the International Rubber Study Group, global rubber demand is likely to rise by 4.6 per cent to 26.1 million tonnes in 2011 and by 3.8 per cent to 27.5 million tonnes in 2012.
(Source: http://in.news.yahoo.com/rubber-board-estimates-2011-12-consumption-9-77-125300774.html)
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