India''s Production of Synthetic Rubber Down 15 pc in July.

New Delhi, (PTI) Despite a sizeable increase in consumption of synthetic rubber by domestic industry, production of the commodity in India declined by 15.1 per cent to 8,188 tonnes in July this year, as per the Rubber Board.

According to the Rubber Board, production of synthetic rubber -- which is mainly used by automobile tyre-makers -- stood at 9,637 tonnes in July last year.

However, during the April-July period of the current year, the production of synthetic rubber was up by 2.2 per cent at 35,144 tonnes, as against 34,392 tonnes in the corresponding period a year ago.

In July, consumption of synthetic rubber grew by 24.8 per cent to 33,765 tonnes from 27,035 tonnes in the corresponding month of the previous fiscal.

During the first four months of the ongoing 2010-11 financial year, consumption of synthetic rubber in the domestic market grew by 26.6 per cent to 132,925 tonnes.

"The increased consumption is because of the buoyancy in the country''s automobile markets," industry experts said.

According to the board, demand from tyre-makers increased by over 32.6 per cent in the April-July period of the current fiscal to 93,503 tonnes.

The gap in consumption and production of synthetic rubber in the country is being met through imports.

Imports of synthetic rubber increased by over 50 per cent in July to 27,832 tonnes from 18,465 tonnes in the corresponding month a year ago.

Total imports of synthetic rubber in the current fiscal till July stood at 104,780 tonnes, as against 75,090 tonnes during the same period in FY''10.

India produced 106,743 tonnes and consumed 347,710 tonnes of synthetic rubber in the 2009-10 fiscal.

Source : news.in.msn.com