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