CHENNAI: India is dealing with an acute shortage of pure rubber with home manufacturing falling wanting demand by round 5.5 lakh tonne.
According to Shashi Singh, president of the All India Rubber Industries Association (AIRIA), pure rubber manufacturing in India has elevated from 8.4 lakh tonne in 2022-23 to eight.6 lakh tonne in 2023-24. “But there has also been a sharp rise in natural rubber consumption which has gone from 13.5 lakh tonne in 2022-23 to 14.2 lakh tonne and so the deficit is still 5.5 lakh tonne,” he stated.
India, he added, has at all times been depending on imports as a result of home manufacturing of pure rubber has not stored tempo with demand.”Natural rubber imports face a 25% customs duty or Rs 30 per kg whichever is higher but that’s just one part of the issue,” stated Singh. The different is the supply of pure rubber. “Right now China is stocking up and Bangladesh, which had become a good source of natural rubber, is in turmoil,” added.
The instant result’s a pointy improve within the price of pure rubber. “The price is currently at Rs 247 per kg which is the highest in 15 years compared to Rs 182 per kg as on April 1, 2024. So in 4 months, it has nearly doubled,” he stated.
According to Shashi Singh, president of the All India Rubber Industries Association (AIRIA), pure rubber manufacturing in India has elevated from 8.4 lakh tonne in 2022-23 to eight.6 lakh tonne in 2023-24. “But there has also been a sharp rise in natural rubber consumption which has gone from 13.5 lakh tonne in 2022-23 to 14.2 lakh tonne and so the deficit is still 5.5 lakh tonne,” he stated.
India, he added, has at all times been depending on imports as a result of home manufacturing of pure rubber has not stored tempo with demand.”Natural rubber imports face a 25% customs duty or Rs 30 per kg whichever is higher but that’s just one part of the issue,” stated Singh. The different is the supply of pure rubber. “Right now China is stocking up and Bangladesh, which had become a good source of natural rubber, is in turmoil,” added.
The instant result’s a pointy improve within the price of pure rubber. “The price is currently at Rs 247 per kg which is the highest in 15 years compared to Rs 182 per kg as on April 1, 2024. So in 4 months, it has nearly doubled,” he stated.
