KOCHI(Commodity Online) : With the Indian tyre companies seeking to augment production in the coming year and domestic rubber output slipping by 5% against the target, an expected natural rubber deficit of 1.2 lakh tons is projected by the industry players for the coming season.
Imports meanwhile would be to the tune of 1.7 lakh tons during 2011-12
To meet the demand, an additional 14,000 hectares of rubber plantation would be tapped into in 2012. But their output would reach only 14000 tons a year.
The 2010-11 domestic rubber production is pegged at 8.51 lakh tons, a Y-O-Y growth of 3%, and consumption for the same period is expected to climb 1.9% to 9.48 lakh tons.
In fact, in 2011-12 the production and consumption would widen up to 2 lakh tons, The Economic Times quoted Neeraj Kanwar, chairman, Automotive Tyre Manufacturers’ Association as saying. The association has sought duty-free imports to the same tune to meet the demand.
Rubber prices had shot up to Rs.240.50 per kg in February.
(Source: http://www.commodityonline.com/news/India-rubber-output-deficit-to-be-12-lakh-tons-37074-3-1.html)
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