India''s Synthetic Rubber Consumption up 8 pc in May.

New Delhi, Aug 24 (PTI) The country''s synthetic rubber consumption rose by 8 per cent to 35,740 tonnes in May this year, while domestic production declined marginally to 9,468 tonnes in the same period, according to the Rubber Board.

Synthetic rubber consumption and output stood at 33,110 tonnes and 9,522 tonnes, respectively, in the corresponding period of the previous year, the Rubber Board data shows.

Production of synthetic rubber on a month-on-month basis rose by 2 per cent in May, 2011, from 9,262 tonnes in April, 2011. Consumption declined by 3 per cent in May, 2011, from 36,890 tonnes in the corresponding period a year ago.

In the first two months of the current fiscal, synthetic rubber consumption was up by 10 per cent at 72,630 tonnes, as against 65,925 tonnes in the year-ago period, while production rose by 6 per cent to 18,730 tonnes from 17,702 tonnes in the same period last year.

Synthetic rubber is mostly used in the manufacture of tyres in the country.

The auto tyre industry alone consumed 26,022 tonnes of the produce in May this year, which is 11 per cent higher than its consumption of 23,355 tonnes in the year-ago period.

India''s synthetic rubber imports rose by 20 per cent to 31,497 tonnes in May, 2011, from 26,268 tonnes in the same period last year.

The total stock of synthetic rubber in the country at the end of May, 2011, stood at 41,625 tonnes.

Source : news.in.msn.com