Natural rubber prices likely to be cheaper soon
By chennaivision at 13 January, 2009, 10:58 am
Kolkata, Jan 12 Â The prices of natural rubber are expected to plummet at Rs 55-60 per kg by this month-end from its current level of Rs 72.
This was informed today by Mr M F Vohra, Chairman(Rubber Manufacturing Products Panel) of Capexil, erstwhile Chemcials & Allied Products Export Promotion Council, while speaking on the sidelines of a press meet here.
” Since the industry is in a downturn, the prices are expected to come down soon. Around 55 per cent of the total domestic production of natural rubber is utlised by the tyre-makers. But they are not doing well. There is a fall in demand. The output of natural rubber currently stands at 8,70,000 ton, ” Mr Vohra explained.
Similarly, the growth in the export of rubber manufactured products was estimated to move southward at 10-12 per cent at the current fiscal-end, which was assessed at 32 per cent last year.
” A growth rate of 22 per cent in the exports, which is mostly done to the US and European Union, is perceived till September, ” he stated.
While exports of non-tyre rubber manufactured products was recorded at Rs 2,082.2 crore during previous fiscal, such figure for the tyre variant stood at Rs 3,094.44 crore in the same period, the chairman further informed.
According to him, sub-standard rubber manufactured products, priced at a rate 40 per cent lower, from China were making their ways to India. He appealed to the Centre for putting a check in this regard.
The rubber industry in the country was expected to grow at over eight per cent per annum this decade.
However, the per capita consumption of rubber was assessed at 0.8 kg in India against 14 kg in the developed world.
The Capexil will hold ‘Reverse Buyer Seller Meet’ for rubber manufactured products in the city between January 29 and 30, while an India Rubber Expo will be organised by All India Rubber Industries Association from January 28 to 31 at Salt Lake stadium in Kolkata.
UNI
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