KOCHI (Commodity Online): India's natural rubber production is esstimated to be around 9.42 lakh tons and consumption to be around 10 lakh tons for 2012-13, according to Indian Rubber Growers Association (IRGA).
The deficit of 64,000 tons is expected to filled through duty free channel of imports.
India' rubber industry is eligible to import 1.3 lakh mt without import duty.
Meanwhile, IRGA opposes the demand of the Automotive Tyre Manufacturers Association (ATMA) for duty-free import of natural rubber as it it against the all initiatives of the producers, processors and consumers to improve the quality of rubber produced.
IRGA targets rubber production to achieve 15 lakh tons by 2020.
For Febrauary delivery, in Tokyo Commodity Exchange (TOCOM), natural rubber traded at 311 yen per kg and On Natioanl Multi Commodity Exchange (NMCE), the commodity traded at Rs 19,010 per ton on 9th February.
