Indian natural rubber output rises 23% in 2016-17; exceeds target, Auto News, ET Auto

KOCHI: The natural rubber production in the country has surpassed the target of 6.54 lakh tonnes set by the Rubber Board for 2016-17. The production has jumped by 23 % from a year earlier to reach 6.90 lakh tonnes.

The output had plummeted to the lowest in two decades at 5.62 lakh tonne in 2015-16. The production increased 67% in the month of March 2017 to 55,000 tonnes from the same period last year.

The exports have also touched a four -year high of 20,012 tonnes. It was a meager 865 tonnes in 2015-16.

The better performance has been attributed to higher prices in both the international and domestic markets in the second half of the year and the measures taken by the board to improve output and productivity.

The rubber consumption in the country has recorded a 5% increase to 1041475 tonnes for the year.

The import after rising for the last few years due to lower international prices showed a decline of 7 % at 426172 tonnes during 2016-17. It had touched an all-time-high of 458374 tonnes in the previous year with the production in the country nose diving.