New Delhi (PTI): Natural rubber production declined 16 per cent to 47,000 tonnes in February due to drought in major producing regions of Kerala and a fall in prices of the commodity.
Output apart, import, export and consumption of natural rubber, too, fell in February.
"The production of natural rubber in February dipped to 47,000 tonnes from 54,520 tonnes in the year-ago period. The decline was a result of the fall in prices of the commodity and severe drought in Kerala, the largest producing state," a senior Rubber Board official told PTI.
Natural rubber prices at Kottayam, a major trading hub, slumped to Rs 6,975 per quintal yesterday from a peak of Rs 14,200 per quintal on August 28, 2008.
Production between April 2008 and February 2009, however, touched 8,14,505 tonnes, up five per cent. In the same period a year earlier, production stood at 7,78,095 tonnes.
Consumption, too, was down at 67,000 tonnes from 73,870 tonnes in February 2008.
The decline in consumption in February was due to the "continued recession and low demand in the vehicle/tyre production", the official said.
On top of that, huge imports of cheaper Chinese tyres have prompted domestic companies to reduce production target by 15-20 per cent, thus denting demand for raw materials. (Hindu)
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