Natural rubber imports jump by 49% in 2013-14

Natural rubber imports by India in 2013-14 increased by 49 per cent to 3.24 lakh tonnes on account of a drop in domestic production and lower prices in international markets.
Imports increased notwithstanding the Centre raising import duty on natural rubber to Rs 30 per kg or 20 per cent, whichever is lower, in December.
The basic customs duty on natural rubber earlier stood at Rs 20 a kg or 20 per cent of per kg price whichever was lower.
India's natural rubber imports in 2012-13 were 2.17 lakh tonnes, according to the Rubber Board.
"Imports have gone up as international prices of rubber were down by as much as Rs 35 per tonne as compared to domestic prices," a senior rubber board official said.

Production of natural rubber dropped by 7.6 per cent to 8.44 lakh tonnes during the year 2013-14 against 9.13 lakh tonnes in the year 2012-13.
However, consumption marginally rose to 9.77 lakh tonnes in 2013-14 from 9.72 lakh tonnes in 2012-13.
Rubber exports declined substantially by 82 per cent to 5,381 tonnes in the year 2013-14 as compared to 30,594 tonnes in the previous year.