Anticipated rise in global prices due to heavy natural rubber output fall in major producing countries may curb its import to India. In turn, it is likely to boost domestic prices, according to market experts. Declining consumption has already led to nearly 14% drop in NR import to India in the first six months of 2019-20 compared with the same period last year. Rubber Board, India, has projected a 17% drop in import year-on-year to 415,000 tonnes for FY20.
“There is a possibility of global rubber prices firming up, which may check the import, encouraging the domestic growers to go for more tapping,’’ says Sawar Dhanania, Chairman, Rubber Board, India.
The International Tripartite Rubber Council has projected 800,000 tonnes plunge in output this year in top NR producing countries like Thailand, Indonesia and Malaysia due to fungal disease.