| Date: |
16-05-2011 |
| Subject: |
India's Rubber Import Dips 92 Per Cent in April |
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India's natural rubber imports plummeted by 92 per cent to 843 tonnes in April due to high global prices.
The country had imported as much as 10,876 tonnes of natural rubber in the same period last year, according to the Rubber Board data.
"Import of natural rubber have come down in April because global prices were very high," Automotive Tyre Manufacturer's Association Director General Rajiv Budhraja said.
The import orders for April were booked in the February-March period, when prices were ruling firm at Rs 280-290 per kg level, he added.
"Imports became unviable last month as the price gap between the global and the domestic price was Rs 30-50 per kg and many preferred sourcing the raw material from the local market itself," Cochin Rubber Merchants Association (CRMA) Ex-President N Radhakrishnan explained.
Source : daijiworld.com
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