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6 months ago
India's January rubber imports drop 39 percent y/y as prices rally - Board
February 23, 2017 / 8:06 AM / 6 months ago

India's January rubber imports drop 39 percent y/y as prices rally - Board

A man works at a tyre recycling unit on the outskirts of Ahmedabad, August 11, 2015.Amit Dave/Files

MUMBAI (Reuters) - India's natural rubber imports in January fell 39 percent to 24,093 tonnes from a year ago, the state-run Rubber Board said on Thursday, as tyre makers trimmed overseas purchases due to a rally in global prices.

The country's production in the month jumped 27 percent to 66,000 tonnes from a year ago as farmers increased tapping to cash in on the price rally, the board said in a statement.

Consumption in January remained largely unchanged at 84,000 tonnes, compared with 84,875 tonnes a year ago, it said.

Natural rubber prices in India have jumped to their highest levels in three years following a surge in overseas prices due to supply disruptions in Thailand.

India imports natural rubber mainly from Thailand, Indonesia, Vietnam and Malaysia.

Reporting by Rajendra Jadhav; Editing by Gopakumar Warrier

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