India’s Rubber Board urges new measures to stabilise NR prices

Kottayam, India - The India Rubber Board “will continue its efforts to stabilise natural rubber (NR) prices” in cooperation with allied sectors, chairman Dr. Sawar Dhanania said in a presidential address.

In a 24 Jan release from the 183rd meeting of the Rubber Board, Dhanania noted that central government had banned imports of scrap rubber to support farmers facing falling rubber prices. 

The Rubber Board has requested India regulators to raise the import duty on compounded rubber, the industry body leader added at the meeting in Kottayam. 

Dhanania also called for investment in modern warehousing capacity so that could farmers can store more produce “until the domestic market improves.” 

The chairman went on to highlight “value-addition” initiatives, including work to apply new processing and design technologies in the rubber wood industry.

Also at the meeting,  Dr. K.N. Raghavan, IRS, executive director reported that India’s NR production for April to November was provisionally estimated as 517,000 tonnes.

Growth was estimated at 14.9% compared to the same period of last year, added Raghavan, noting the board’s contribution to raising production, such as by promoting rainguarding and controlling diseases.

NR consumption for April to November was provisionally estimated at 898,000 tonnes, representing a year-on-year growth of 8.6%. 

Within that figure, the automotive tire sector registered 4.4% growth, while the general rubber goods sector grew 20.2%. 

The automotive tire manufacturing sector accounted for 71% of the total NR consumed in the country from April to November. 

The revised projection of production and consumption of NR for 2022-23 is 830,000 tonnes and 1,310,000 tonnes respectively, Raghavan continued.  

NR imports, he reported, increased to 378,481 tonnes from April to November compared to 343,604 tonnes during the corresponding period of last year.