| Date: |
08-11-2012 |
| Subject: |
India’s rubber imports surge in Oct |
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MUMBAI: India’s natural rubber imports more than doubled in October from last year’s level to 18,326 tonnes as tyre-makers took advantage of lower prices overseas than in domestic markets, the state-run Rubber Board said yesterday.
Imports in the first seven months of the financial year that started on April 1 amounted to 130,966 tonnes, up 31.3 per cent compared with the same period a year ago, it said.
The world’s fourth-biggest tyre producer imports natural rubber from Malaysia, Thailand and Indonesia.
India’s rubber imports could hit a record 22.5 per cent of its total consumption in 2012/13 as a widening gap between local and overseas prices prompts tyre-makers to bring in imports.
Source : btimes.com.my
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