Natural rubber (NR) exports from India jumped to 20,030 tonnes during the last fiscal year, marking the highest level in four years.
After touching 30,594 tonnes in 2012-13, the exports had progressively dropped every year owing to the relative low price of natural rubber in the international market. In the last fiscal, the country only exported 865 tonnes of natural rubber.
During 2016-17, different types of NR viz. RSS (363 tonnes), ISNR (6,508 tonnes), latex (13,023 tonnes), and others (136 tonnes) were exported to different countries. Majority of shipments were to Germany, Brazil, US, Italy, Turkey, Belgium, China, Egypt, Netherland, Malaysia, Pakistan, Sweden, Nepal, and the UAE.
The branding of NR, initiated by the Rubber Board, helped Indian exporters to claim their market share as the quality assurance helped boost buyers’ confidence. About 65% of the NR exported was under the brand ‘Indian Natural Rubber’. Indian Natural Rubber branding is an export promotion strategy promoted by the Board since 2011 with an objective of distinguishing Indian rubber in international market with its discerning quality features.
Concentrated latex constituted 65% of the total natural rubber exports. The domestic demand for concentrated latex was declining but exports helped to stabilise the domestic prices.
The board is promoting export as a market intervention strategy to adjust imbalances in the domestic market owing to unscrupulous imports of rubber. Exports during this peak production period of December 2016 to March 2017 helped the domestic market maintain market equilibrium, an official release from the board said.