Rubber Board pegs import at 70,000 t

India is likely to import about 70,000 tonne of rubber this year against an export target of about 40,000 tonne, Rubber Board chairman S M Desalphine said.

Prices will remain at the present level. The board does not foresee a fluctuation in rubber prices, Desalphine said, speaking at the Rubber Congress held as part of the India International Commodity Fair, which concluded on Saturday.

Pointing out that India, Thailand and Malayasia have come together and formed an international consortium and they had plans to intervene in the market, if prices fall, he said in the next 10 years, there is unlikely to be a situation wherein prices are likely to fall drastically.

Allaying apprehensions that if India continued to import raw cashew and exports do not pick up, the rubber stock could touch two lakh tonnes this year, the chairman said the board was not expecting any stock build-up.

Export does not take place during the lean months from February to August and picks up from August onwards.

The export target would be met this year, he said. While last year's export touched 46,000 tonne against the targeted 50,000 tonne, this year the target has been pegged at 40,000 tonne, he added.

"We are not anticipating any substantial stock build-up in the country. Upto 1.50 lakh tonne, there was no problem if the stocks piles up. Beyond that, we only need to have apprehensions about rubber prices falling," he said.