Natural Rubber Import To Increase, Exports To Decline.

The Economic Survey today said the export of natural rubber (NR) could be lower and its imports could rise in 2010-11 on back of increase in consumption.

"India has emerged as the second largest consumer of NR, overtaking the United States with a share of 9.6 per cent in world consumption in 2009,"the survey tabled in Parliament by Finance Minister Pranab Mukherjee said.

The report said consumption of NR in 2010-11 is projected to increase by 1.9 per cent to 9,48,000 tonnes.

The consumption of NR in the year-ago period was 930,565 tonnes.

"Despite not having the best geographically favourable regions for growing NR, India continued to record the highest productivity among major NR producing countries,"the survey said commending India&aposs potential as a NR producer.

India is the fourth largest producer of NR with a share of 8.5 per cent in worlds production in 2009, it added.

"The production of NR in 2010-11 is projected at 8,51,000 tonnes, which is an increase of 2.4 per cent over 2009-10,"the report said. India produced 8,31,400 tonnes of NR in the previous financial year.

The exports of NR in the period April 10-January 11 declined by almost 14 per cent to 11,678 tonnes as against 13,499 tonnes in the year-ago period.

The imports registered an increase in the April 10-January 11 period by almost 8 per cent to 1,64,330 tonnes as against 1,52,510 tonnes in the corresponding period of previous year.

Source : nongsain.indiareport.com