India has seen a 19 % rise in its imports of natural rubber to 33,156 tonnes from a year earlier, India’s Rubber Board said, due to a dip in local output and lower global rubber prices.
Also, there is a decrease of local rubber production to 64, 000 tonnes after production fell to its lowest in five years.
Meanwhile, the country’s rubber consumption rose to nearly 12 % to 85,000 tones.
“Even in coming months we will see higher imports. Tyre companies have already signed import deals for shipments in next few months due to lower price in Thailand and Indonesia,” George Valy, president of the Indian Rubber Dealers’ Federation said.