India has seen a 36% shrink in rubber production in December 2014, its steepest drop for last year. Meanwhile, consumption has increased marginally while growth in imports has slowed down.
The Automotive Tyre Manufacturers’ Association (ATMA) quoting the Indian Rubber Board figures said production in December 2014 plunged to 63,000 tonnes. Between August and November, the production fall ranged from 25% to 33%.
“Growers were reluctant to sell initially. But now we are getting materials. We buy around 200 to 300 tonnes daily. We are ready to buy more if they bring it,” Swaranjith Singh, director (materials) of JK Tyres, said.