“Last financial year, India’s production of natural rubber was 8 lakh metric tonne and we expect it to be 5% more this year,” said Ramesh Kejriwal, president, All India Rubber Industry Association.
He said that excessive rain is good for rubber production and attributed the sector’s growth to the growing automobile industry which makes use of rubber in belts and tyres, among others.
“One of the biggest factors behind the growth of this industry is the growth of the automobile industry. Automobiles make use of rubber in many ways, rubber belts, tyres, etc. Natural rubber production has also seen great growth,” he said.
Kejriwal said that around 5 lakh tonne was imported from Thailand, Malaysia, Sri Lanka and Vietnam in the last financial year due to rising demand in India.
He explained that the domestic prices of rubber are higher than imported prices and that prices of natural rubber in international market is low because the consumption in China and the EU is yet to pick up.
