NEW DELHI: India trimmed its natural rubber consumption forecast for 2008-09 for the second time in just a month to 8.58 lakh tonnes, as the ongoing global economic slowdown has dented demand for tyres. Rubber Board has also cut the production forecast f or natural rubber to 8.60 lakh tonnes for the current fiscal from 8.61 lakh tonnes. “Natural rubber consumption for this year is now revised to 8,58,000 tonnes while production is projected at 8,60,000 tonnes,’’ said an official of Rubber Board.
The Board had, in the last week of January, revised its first estimate of consumption, made in April last year, downwards to 8.62 lakh tonnes, citing slowdown in demand from consuming industries, along with a cut in output projection. The consumption of rubber suffered on global recession fears, which have prompted tyre makers to cut output, the official said, adding that the production of rubber, too, was hit by a drought-like situation in the major producing state of Kerala in February. The Board has also cut its export projection further to 46,000 tonnes for this fiscal from 48,000 tonnes estimated last year.
Source : PTI