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India's rubber imports drop 39% YoY in Jan as prices rally.


Date: 24-02-2017
Subject: India's rubber imports drop 39% YoY in Jan as prices rally
MUMBAI: 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.

Source: economictimes.indiatimes.com

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