India’s natural rubber production fell by over 9 per cent to 73,000 tonnes last month as heavy rains affected the tapping process, the state-run Rubber Board said.
Similarly, the production of the rubber variety so far this year declined to 347,000 tonnes, compared with 396,000 tonnes a year earlier.
“Natural rubber output dipped to 73,000 tonnes last month from 80,000 tonnes a year before mainly because of heavy rains,” a senior official with the Rubber Board said.
Drought till August and heavy rains in September jeopardised the tapping process of natural rubber, pulling down its production so far this financial year, he explained.
Export also dipped to 400 tonnes in September from 2,300 tonnes in the year-ago period. The country exported only 1,350 tonnes so far this financial year, compared with 31,000 tonnes a year before as domestic prices exceeded global rates.
“Domestic prices have been ruling above global rates, prompting bulk consumers such as tyre makers to import more, making export a less profitable option,” the official said.
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However, the gap in domestic and global prices was reflected in the import of natural rubber, which surged by 50 per cent last month to 15,000 tonnes. India imported 114,000 tonnes of the natural variety so far this year against 38,000 tonnes in the corresponding period last year.
Natural rubber price stood at Rs 10,750 a quintal at Kottayam on Monday, while the rate of the RSS-3 variety of rubber was ruling at Rs 10,548 a quintal at SICOM in Singapore.