India’s natural rubber imports in February nearly doubled to 18,141 tonnes from a year ago, the state-run Rubber Board said, as a sharp drop in overseas prices prompted tyre makers to increase overseas purchases.
In February, prices of tyre grade rubber fell to multi-year lows in the world market on persistent worries about a slowing economy in China, its high levels of inventory and weakness in benchmark rubber futures on the Tokyo Commodity Exchange.
India’s natural rubber production in February fell to 60,000 tonnes from 62,000 tonnes a year ago, the Board said in a statement on Monday.
Source: Business Standard
Published: 12 Mar 2014