Imports of natural rubber went up by 46 per cent to 26,853 tonnes in December due to lower prices in international markets and drop of over 5 per cent in domestic production.
Imports increased notwithstanding the Centre raising import duty on natural rubber to Rs 30 per kg or 20 per cent, whichever is lower, in December.
The basic customs duty on natural rubber earlier stood at Rs 20 a kg or 20 per cent whichever was lower.
According to the Rubber Board data, India's natural rubber imports rose to 26,853 tonnes from 18,366 tonnes of in the same month in 2012.
"Imports have gone up as contracts for import of natural rubber in December were made during September and October, and at that time prices in the international market were down by Rs 35 per tonne as compared to domestic prices," a senior rubber board official said.
During April-December period of this fiscal, rubber import increased to 2.64 lakh tonnes from 1.73 lakh tonnes in the corresponding period of previous fiscal.
Meanwhile, production of natural rubber dropped by 5 per cent to 1.08 lakh tonnes during December 2013 against 1.14 lakh tonnes in the same month of 2012. However, consumption rose to 79,500 tonnes in December last year from 78,420 tonnes in December 2012.
Rubber exports declined 57 per cent to 695 tonnes in December last year as compare to 1,603 tonnes in the same month in 2012.
Source:- business-standard.com
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