Market and product

Natural rubber shipments to India has recorded an upsurge during fiscal year 2015/16 as domestic production plummeted. As per the latest data issued by Rubber Board, there was 2.8 per cent increase in India's natural rubber imports in fiscal year 2015/16.

The imports surged to 454,303 tonnes from a year earlier, according to the Rubber Board. The domestic production of rubber in 2015-16 declined to the lowest level in nearly two decades. Rubber farmers have abandoned tapping due to two years of price slump resulting in low production.

Rubber production in 2015-16 dropped 12.7 per cent to 563,000 tonnes from last year's 64,500 tonnes, as per the data by Rubber Board. Consumption of rubber slipped 3 per cent to 987,540 tonnes from 1,020,910 tonnes a year ago.