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Rubber Import Surges on increasing demand


Date : January 11, 2011	Number of Views : 461

India imported over Rs. 2000 crores worth of rubber during April to October 2010. The figure is nearly double of last year, as per Indian export import statistics released by Govt of India.

With domestic supplies from Indian manufacturers not meeting demands, rubber imports have risen 93.1 per cent to Rs 2,026.84 crore from Rs 1,049.6 crore during April-October 2009, according to data released by the Commerce and Industry Ministry on Monday.

Currently, domestic rubber prices are about Rs 210-215 a kg, whereas international prices are about Rs 240 a kg. Last month, to increase domestic availability of the item and check rising prices, the Government had cut import duty on natural rubber to 7.5 per cent from 20 per cent for shipments up to 40,000 tonnes till March 31, 2011. After that date, the duty will be reinstated at whichever is the lower of 20 per cent or Rs 20 a kg.

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