Rubber imports up by 6,624 tonne

India's natural rubber imports went up by 6,624 tonne in April-July to 30,000 tonne compared with 23,376 tonne in the same period last year, according to estimates by the Rubber Board.

Rubber imports into the country in July were estimated to be 8,181 tonne and April-June 21,819 tonne, Rubber Board officials said Tuesday.

On the other hand, India's natural rubber exports fell by 358 tonne during April-July to 5,500 tonne, from 5,858 tonne same period last year.

The high price prevailing in the domestic market at the beginning of the current financial year was cited as a major reason for the surge in imports and decline in exports.

Since international prices are ruling higher than domestic, imports are likely to be less in the coming days, said a rubber trader.This is also likely to improve prospects of rubber exports, he said.Natural rubber imports into the country in the current fiscal are pegged between 70,000-80,000 tonne.

Out of this, the tyre sector would account for nearly 70,000 tonne while the rest by the non-tyre sector.

The export target is pegged at 40,000 tonne compared with 48,000 tonne in the previous year.

Today, RSS-3 grade, the equivalent of domestic RSS-4 grade, was up Rs 11.59 per kg in Bangkok.

At this rate, Indian rubber would be quite competitive in the international market, said another trader.