India's rubber import increased by more than 50 per cent to 28,720 tonnes in September over the same month last year owing to lower international prices.
According to Rubber Board data, India had imported 18,612 tonnes rubber during September last year.
"The higher imports in September this year is because of higher domestic prices than global prices. While, prices here were ruling at Rs 185-190 a kg, international price was only Rs 150-155 per kg," Indian Rubber Dealers' Association President George Valy told PTI.
Rubber prices in the domestic market had touched a high of Rs 186 per kg in August in the wake of increased demand from tyre manufacturers.
However, the prices in the domestic market declined to Rs 167 per kg in September after the government's announcement to cap the import duty on rubber at Rs 20.6 per kg.
"After the government's announcement to cap import duty at Rs 20 per kg, tyre makers deferred buying anticipating low prices. However, after facing growers' resistance, they have resumed buying, which had led to a jump in the prices of rubber," Valy had said earlier.
Till September prices of rubber in the international market were hovering at around Rs 150 per kg, but now it has gone up to Rs 160 per kg, he said, adding that it may go up further to Rs 180 per kg in the near future.