Rubber imports jump three-fold in Sept on lower global rates

Natural rubber imports jumped by more than three-fold to 46,581 tonnes in September compared to the same period last year due to lower global prices and fall in domestic production.

 

Imports of rubber in September last year stood at 14,779 tonnes, according to rubber board data.

 

Total imports of rubber during April-September period in current year was higher by 59% at 179,292 tonnes compared to 112,641 tonnes a year ago.

 

However, production has dropped by 13% to 3,43,000 tonnes during April-September against 395,700 tonnes in the same period last year.

 

"Jump in imports during the month of September is mainly due to fall in production especially in Kerala and lower prices in the international market as compare to domestic market," a rubber board official said.

 

Prices in international market are about Rs 156 per kg whereas prices in domestic market are at Rs 168 per kg.

 

In international market rubber is available at 8-10% lower prices than the domestic prices, therefore tyre manufacturers and other industries are more inclined to import rubber, he added.