New Delhi: Natural rubber imports plummeted by 92% to 843 tonne in April due to high global prices. The country had imported as much as 10,876 tonne of natural rubber in the same period last year, according to the Rubber Board data.
"Import of natural rubber came down in April because global prices were very high," Automotive Tyre Manufacturer's Association director general Rajiv Budhraja said. The import orders for April were booked in the February-March period, when prices were ruling firm at R280-290 per kg level, he added.
"Imports became unviable last month as the price gap between the global and the domestic price was R30-50 per kg and many preferred sourcing the raw material from local market," Cochin Rubber Merchants Association (CRMA) ex-president N Radhakrishnan explained.
Going forward, the industry bodies said import of natural rubber is expected to improve as global prices have started cooling. The robust demand from tyre industry may also prompt for higher imports in the coming months, they said.
(Source: http://www.financialexpress.com/news/rubber-import-dips-92-in-april-on-high-global-price/791266/0)
No comments:
Post a Comment