Rubber Production Likely To Grow By 4.3% In FY 2013 (06-Feb-2012)
The production of natural rubber in India in the financial year ending March 2012, is estimated to be at 902,000 tonnes however, it is likely to rise further by 4.3% in the next financial year to 942,000 tonnes according to the Rubber Board which functions under the Ministry of Commerce & Industry. However, the consumption of the commodity is likely to exceed the production levels according to the projected figures as rubber consumption in FY 2012 would be around 966,000 tonnes while that in FY 2013 will be 1006,000 tonnes.
Thus the production-consumption balance indicates a deficit of 64,000 tonnes. However, there will not be any shortage of natural rubber in the domestic market in 2012-13, as the projected opening stock of NR in April 2012 is 230,000 tonnes and as the rubber consuming industry has entitlement to import more than 100,000 tonnes of NR through duty free channels.
Meanwhile, import and export of natural rubber for 2011-12 are projected at 170,000 tonnes and 30,000 tonnes respectively. Based on the above projections, the carryover stock at the end of March 2012 is projected at 230000 tonnes. According to the figures released by Rubber Board, the domestic production of rubber from April to December 2011 increased by 4.3% as compared to the same period in the previous year while its consumption during the period under consideration increased only by 1.2% as compared to the corresponding period in the previous year.
Consumption of rubber in tyre sector climbed by 5.7% however, consumption of than in non-tyre sector receded 6.3%. Monthly natural rubber consumption, which remained below that of the previous year from August to October, recovered from November 2011.
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