India's synthetic rubber consumption up 8% in Feb

The country's synthetic rubber consumption rose by 8% to 33,925 tonne in February 2011 while domestic supply rose by almost 10% to 9,634 tonne, according to the Rubber Board

Synthetic rubber demand and production stood at 31,440 tonne and 8,768 tonne, respectively, in the same month the previous year, the board's data shows.

However, consumption of synthetic rubber fell almost 4% this February in comparison to the demand in January when it stood at 35,260 tonne.

Production during the period under review also declined 2.28% from 9,859 tonne in January, 2011.

Synthetic rubber is mostly used in the manufacture of tyres in the country.

The auto tyre industry alone consumed 24,692 tonne of the produce this February, 19% higher than its consumption of 20,738 tonne last year.

According to the Rubber Board, the demand for synthetic rubber rose almost 20% from 3,13,405 tonne in April 2010 to 3,75,805 tonne in February 2011.

Meanwhile, overall production of synthetic rubber increased by almost 3% to 1,01,097 tonne from 98,280 tonne in the review period, it said.

India's synthetic rubber imports rose by 10% in February, 2010, to 23,776 tonne from 21,607 tonne in the corresponding period of the previous year.

The total stock of synthetic rubber in the country at the end of February, 2011, stood at 36,225 tonne.