Market and product

Drop in consumption dragged India's natural rubber imports in February, according to Rubber Board. Rubber imports in February reduced 11.7 percent from a year ago to 27,280 tonnes, as per the Board data.

Production dropped 12 per cent from a year ago to 37,000 tonnes and consumption reduced 0.6 per cent to 82,500 tonnes, as per the data. Indonesia, Vietnam and Thailand are India's major import sources of natural rubber.

The United Planters’ Association of South India(UPASI) on Wednesday sought government intervention in etching out a solution to save the plantations which have been hit by low production and productivity, mounting imports and low prices.

India's natural rubber production in the current fiscal is expected to declien to 5.6 lakh tonnes against last year’s 6.4 lakh tonnes. However, the consumption is likely to stay around 10 lakh tonnes.

Lack of active buyers and sellers prompted spot rubber to remain neutral on Wednesday. RSS 4 closed steady at ?108 a kg, as per the data from traders and the Board.