| Date: |
21-01-2016 |
| Subject: |
India puts curbs on rubber imports as domestic prices decline |
To restrict cheap imports of natural rubber, the government allowed inbound shipments of the commodity through only two sea ports of Chennai and Nhava Sheva.
The move is aimed at discouraging imports of natural rubber. "Import of natural rubber of all varieties/forms ... is allowed only through sea ports of Chennai and Nhava Sheva (Jawaharlal Nehru Port)," the Directorate General of Foreign Trade (DGFT) said in a notification.
Domestic producers have time and again raised concerns over increasing rubber imports into the country and dip in prices due to that.
United Planters Association of Southern India (UPASI) has said that cheap imports are harming India's rubber industry and the government should introduce safeguards to protect domestic players.
The persistent fall in the price of natural rubber had also caused concern among rubber farmers in Kerala, which accounts for more than 94 percent of the commodity's total production in the country.
India's natural rubber imports have declined by 9 percent to 2.88 lakh tonnes in the first eight months of the current financial year. In a separate notification, the DGFT said that export of roasted Gram (whole/split) in consumer packs of one Kg has been permitted.
The prohibition on export of pulses would not apply to export of roasted gram in consumer packs of one Kg, it added.
Source : moneycontrol.com
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