Natural rubber imports up by 58% to 1.61 LT: Sitharaman

Natural rubber imports have risen by 58% to 1.61 lakh tonnes in the first six months of 2014, Parliament was informed today.

In a written reply to the Rajya Sabha, Commerce and Industry Minister Nirmala Sitharaman said imports of natural rubber during the January-June period of last year stood at 1.02 lakh tonnes.

The prices of natural rubber are falling in the domestic following the decline in international market, she added.

"Fall in rubber prices in domestic market is mainly due to declining trend of prices in the international market, relatively low growth in the demand for specific norms of natural rubber, and increased level of import," she said.

To another reply, Sitharaman said that the government has set up a committee for National Policy on Rubber.

"The government has set up an Expert Committee consisting of representatives of various stakeholders in the rubber sector to examine all relevant issues and recommend a National Policy on Rubber to address the concerns of various stakeholders of the rubber sector," she added.

The committee has the task of reviewing issues concerned with production, demand, marketing, trade including imports, taxation and evolving a policy aimed at protecting the interest of growers as well as the rubber industry.