FY16 rubber output falls 13% to 5.63 lt
The production of natural rubber in the country witnessed a decline of 13 per cent to 5.63 lakh tonnes in the fiscal ended March 2016, while imports during the period rose by 3 per cent to 4.54 lakh tonnes. The rubber production stood at 6.45 lakh tonnes in the 2014-15 fiscal and the imports were at 4.42 lakh tonnes, according to Rubber Board data. In April last year, the government had hiked the import duty on natural rubber to 25 per cent or Rs 30 per kg, whichever is lower, to protect the interest of domestic growers and curb imports.
As a result of fall in rubber production, the imports of truck and bus radial tyres have jumped by 64 per cent in 2015-16 to 12.8 lakh units from from 7.8 lakh units in the previous fiscal.