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| Natural rubber output dips 9% in September; export slumps |
| Press Trust of India / New Delhi Oct 06, 2009, 14:29 IST |
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India's natural rubber production fell by over nine per cent to 73,000 tonnes last month as heavy rains affected the tapping process, the state-run Rubber Board said.
Similarly, the production of the rubber variety so far this fiscal declined to 3.47 lakh tonnes, compared to 3.96 lakh tonnes a year earlier.
"Natural rubber output dipped to 73,000 tonnes last month from 80,000 tonnes a year before mainly because of heavy rains," a senior official with the Rubber Board said.
Drought till August and heavy rains in September jeopardised the tapping process of natural rubber, pulling down its production so far this fiscal, he explained.
Export also dipped to 400 tonnes in September from 2,300 tonnes in the year-ago period. The country exported only 1,350 tonnes so far this fiscal, compared with 31,000 tonnes a year before as domestic prices exceeded global rates.
"Domestic prices have been ruling above global rates, prompting bulk consumers like tyre makers to import more, making export a less profitable option," the official said.
However, the gap in domestic and global prices was reflected in the import of natural rubber, which surged by 50 per cent last month to 15,000 tonnes. India imported 1.14 lakh tonnes of the natural variety so far this fiscal against 38,000 tonnes in the corresponding period last year.
Natural rubber price stood at Rs 10,750 a quintal at Kottayam yesterday, while the rate of the RSS-3 variety of rubber was ruling at Rs 10,548 a quintal at SICOM in Singapore.
Though the export of the natural variety hit a new low, the Rubber Board said it was in no hurry to revise its export target of 50,000 tonnes at least before October 20 and expected a boost in shipments during the peak harvest season (mainly from November till January-end).
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