MUMBAI (Commodity Online): Natural rubber production in India increased by 2 per cent to 54,600 tonnes in May, compared to 53,550 tonnes in the same month last year, the Rubber Board said on Thursday. The rise in natural rubber (RSS-4 variety) production was attributed to increased tapping.
The Association of Natural Rubber Producing Countries, which accounts for 94 per cent of global rubber production, said the output growth which was a meager 0.2 per cent in 2007, virtually stagnated in the following year before posting a decline of 3.6 per cent in 2009.
India’s rubber growers have asked the Commerce Ministry not to reduce the import duty on natural rubber, as demanded by tyre makers, saying that it would hurt farmers in the long run. IRGA has urged the Central government to enhance the import duty on used tyres to 20 per cent, at par with the import duty on natural rubber (NR). Currently the duty is 10 per cent.
French tyre major Michelin plan to hire about 200 people in India this year as it gears up to start production from its Chennai plant in the next two years. The company is investing Rs 40 billion over a period of seven years on setting up the plant in Tamil Nadu that will produce truck and bus radial tyres.
Malaysia plans to double its natural rubber production to 1.8 million tonnes in 2020, the Malaysian Minister of Plantation Industries and Commodities. Malaysia produced 846,900 tonnes of natural rubber in 2009 and expected production in 2010 to increase by 5.9% to 900,000 tonnes.
Thailand plan to boost its domestic consumption of natural rubber by 46% from the current 397,000 tonnes per year to 580,000 tonnes per year by 2013, the Director General of the Department of Agriculture said. After three years of stagnation and decline, global rubber production is poised to grow by six per cent this year.
(commodityonline.com)
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