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India's rubber imports drop, inventory ample

Date: 10-08-2012
Subject: India's rubber imports drop, inventory ample
Aug 9 (Reuters) - India's natural rubber imports in July fell by more-than 14 percent from a year ago to 17,084 tonnes, the state-run Rubber Board said on Thursday, as tyre makers slowed down purchases due to comfortable inventory built-up from earlier imports.

The country's rubber production during the month edged up 2.6 percent on year to 66,000 tonnes despite poor rainfall in top producing Kerala state, the Board said in a statement.

"Rainfall is lower than the average, but we are getting it after regular interval. It will not affect on production," said George Valy, president of the Indian Rubber Dealers Federation.

"Even in August production will be higher than last year."

Production during the first four months of financial year ending in March was largely steady at 240,000 tonnes, data showed.

India is likely to produce 942,000 tonnes of natural rubber in the current year, up from 899,400 tonnes a year ago as production that was planned years ago comes onstream in non-traditional areas such as north-eastern states.

The world's fourth-biggest producer's consumption during July edged up to 83,000 tonnes from 81,210 tonnes a year ago.

India's imports in first four month jumped nearly 27 percent on year 76,666 tonnes as in first three months tyre makers aggressively imported to cash in on lower overseas prices.

Source : in.reuters.com

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