Friday, May 4, 2012

Rubber showing positive trend

With the slowing global economic crisis and increasing consumption of natural rubber by the tyre sector in India, the rubber futures in Tokyo commodity Exchange and in India’s National Multi Commodity Exchange rose.

India is expected to produce double the number of truck, bus radial tyre to 4.8 million tyres in 2012-13 from 2.67 million tyres in 2011-12 is likely to keep the price of natural rubber higher.

Production and consumption of natural rubber in 2011-12 were 8,99,400 tonnes and 966,750 tonnes, respectively. Natural rubber consumption in the tyre sector increased by 6.3%, whereas in the non-tyre sector it declined by 5.4%. Import and export of NR in 2011-12 were 2,05,433 tonnes and 27,145 tonnes respectively. The carryover stock at the end of March 2012 was 2,30,000 tonnes.

Production and consumption of natural rubber in 2012-13 are projected at 9,42,000 tonnes and 1,006,000 tonnes respectively — a deficit of 64,000 tonnes.

While delivering the keynote address at the inaugural meeting of the Rubber Board campaign for improving the quality of sheet rubber, Kaushik Roy, Convener, Raw Material group, Automotive Tyre Manufacturers Association said that Indian rubber industry has great potential globally, and the country could be the growth driver especially after the recession. The ongoing decade will be a game changer for both the rubber plantation sector and the rubber industry. A commitment is required for quality in production.

According to Automotive Tyre Manufacturers' Association, tyre production and exports increased by 6% and 24%, respectively during April 2011- February 2012 period.

Read lot more in Rubber4U – 15th May 2012 issue

No comments:

Post a Comment