Rubber Board has revised its natural rubber production and consumption targets for the April 2008-March 2009 or financial year 2009 (FY2009).
Speaking on the sidelines of the Indian Rubber Expo, 2009, jointly organised by Confederation of Indian Industry and All India Rubber Industries Association, Peter Sajen, chairman of Rubber Board stated that the current production target of rubber has been revised from 8.75 lakh ton to 8.61 lakh ton while the consumption level of natural rubber has been revised from 8.99 lakh ton to 8.62 lakh ton owing to slowdown in demand in the ongoing economic downturn.
Sajen said, “We have revised natural rubber production and consumption targets for the financial year from 8,75,000 lakh ton to 8,61,000 ton and 8,99,000 ton to 8,62,000 ton after the last board meeting on January 23.” Kerala produces about 90 per cent of India’s natural rubber.
This apart, prices of natural rubber is also likely to improve within the next nine to ten months and should be better than what it is now, he further added.