–India Apr-Aug rubber imports 178,756 tn vs 192,966 tn yr ago
–India Apr-Aug rubber use 418,080 tn vs 425,285 tn yr ago
–India Apr-Aug rubber output 242,000 tn vs 272,000 tn yr ago
–India Aug-end rubber stocks 231,000 tn vs 185,000 tn yr ago
–India Aug natural rubber import 33,292 tn vs 49,108 tn yr ago
–India Aug natural rubber use 87,500 tn vs 86,300 tn yr ago
–India Aug natural rubber output 55,000 tn vs 51,000 tn yr ago
Indias natural rubber imports declined 32.2% on year in August to 33,292 tn, according to data released by the Rubber Board today.
The decline in imports can be attributed to a higher duty structure. In May, the government had raised import duty on natural rubber to 25% or 30 rupees per kg, whichever is lower, from 20% or 30 rupees a kg.
Natural rubber exports in August rose a whopping 1800% on year to 152 tn.
Indias natural rubber production in August rose to 55,000 tn from 51,000tn a year ago. In July, natural rubber production stood at 52,000 tn.
Production during Apr-Aug declined 11% on year to 242,000 tn. Indias natural rubber consumption in August was 87,500, up 1.4% from a year ago, while consumption in Apr-Aug fell nearly 2% on year to 418,080 tn.
The fall in consumption can be attributed to ample imported inventories with tyre makers. In 2014-15 (Apr-Mar), tyre makers imported a record 414,606 tn of natural rubber.
Local rubber inventories rose nearly 25% on year to 231,000 tn in August.