India imported 21,734 tonnes of natural rubber in December, up 57 percent on year, state-run Rubber Board said, and traders expect the robust pace to continue as tyre makers resort to cheaper imports to make good a likely decline in domestic output.
India's rubber production rose just 1 percent to 104,000 tonnes in December, while consumption increased 4.39 percent to stood at 84,000 tonnes, the board said in a statement. "International prices were 20 percent lower in November and December... a lot of imports took place in December despite paying 20 rupees per kg duty," George Valy, president of the Indian Rubber Dealers Federation, told Reuters. In January and February, rubber imports of Indian tyre makers such as Ceat Ltd and MRF Ltd will continue to be the same as in December, Valy said. Imports in the first nine months to December fell to 133,693 tonnes, down 20 percent on year, as international prices were ruling high compared with domestic prices till October.
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