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| Natural rubber exports decline 88% |
| George Joseph / Kochi Jun 04, 2009, 00:55 IST |
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India’s natural rubber exports fell 88 per cent in May due to the rising disparity between the Indian and global prices.
According to the latest estimates by Rubber Board, the total exports in May were just 94 tonnes.
The total exports during April-May fell 88 per cent, compared with the same period last year. Just 818 tonnes were shipped during the two months against 6,849 tonnes in the corresponding period of the previous year.
Local price of RSS-4 grade on Wednesday quoted Rs 100 a kg while the global price is at Rs 82 a kg.
The huge price gap (Rs 18-20 a kg) between India and the global market is making export a tough affair. If the situation continues to be so in coming months, the exports may become nil, according to stockists and experts.
It is apprehended that it would be difficult to export at least 10,000 tonnes in the current financial year against 45,538 tonnes in 2008-09. Total shipments in 2007-08 were 60,353 tonnes.
The same price phenomenon had heavy impact on the import this year between April and May period. Import has edged up to 24,743 tonnes against 14,341 tonnes in the same period of last financial year, registering a 75 per cent increase.
In May, 14,322 tonnes of NR were imported through the advance license scheme as this is beneficial than buying from local markets.
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