Natural rubber growth upped but demand down

Natural rubber growth upped but demand downSINGAPORE-based International Rubber Study Group (IRSG) reports that the world production of NR during April to December 2012 increased by 3.2% while consumption of NR declined marginally by 1.1%. Consumption of NR in the US and EU countries declined considerably during the period. Consumption of NR in Japan and South Korea also declined. Growth in NR consumption in China also remains slow.
According to IRSG, world production and consumption of NR is projected at 11.41 and 10.95 million tonnes, respectively, with a surplus of 460,000 tonnes in 2012. World NR production and consumption in 2013 is expected to be 11.77 and 11.59 million tonnes with a surplus of 179,000 tonnes.
India’s production of NR during April-December 2012 is estimated provisionally as 693,200 tonnes. Consumption during this period was 742,330 tonnes with a growth of 3.2% over the corresponding period in the previous year. However, consumption of NR during November and December declined by 4% and 8%, respectively. Import and export of NR during April to December 2012 were 168,686 and 10,608 tonnes, respectively. Import of NR through duty free channels accounted for 46% of the total during the period. Production and consumption of NR for the year 2012-13 are projected at 920,000 tonnes and 970,000 tonnes, respectively. The projected closing stock of NR in 2012-13 is 290,000 tonnes.(RJA)