Rubber imports dip nine per cent to 2.88 lakh tons in April-October

NEW DELHI: India's natural rubber imports have declined by 9 per cent to 2.88 lakh tonnes in the first eight months of the current financial year.

The rubber imports stood at 3.16 lakh tonnes during the April-October period in the last financial year, according to the Rubber Board's data.

Total rubber imports in FY 2014-15 touched an all-time high of 4,15,000 tonnes due to lower international prices and fall in domestic production.

The Kerala government had also asked the Centre to regulate import of natural rubber and hike excise duty to check its falling prices in the domestic market.

In april this year, the Centre hiked import duty on natural rubber to 25 per cent or Rs 30 per kg, whichever is lower, to protect interest of growers and curb imports that touched record during last fiscal.

Meanwhile, the natural rubber production also declined by 16 per cent to 3.77 lakh tonnes during the period from 4.67 lakh tonnes in the April-October period of 2014-15.