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Rubber body sees India’s Jun imports rising 17% on month to 35,000 tn

Informist, Thursday, Jul 8, 2021

 

By Rahul Dhuri and Roshni Devi

 

MUMBAI – India is estimated to import around 35,000 tn of natural rubber in June compared with 30,000 tn in May, the Association of Natural Rubber Producing Countries said. In April, however, imports of the commodity stood at 44,000 tn. 

 

Supply in India remains weak in June every year due to the onset of the south-west monsoon, which hampers tapping operations in growing regions. Demand for natural rubber in India, the second-largest consuming country, is expected to strengthen in July amid easing of control measures in most states following a decline in the number of new cases of COVID-19. 

 

China, the largest consumer of rubber, is expected to import around 388,000 tn natural rubber in June compared with 354,000 tn in May and 427,000 tn in April, the association said. China accounts for more than 40% of the world's rubber consumption.

 

However, going forward, resurgence of COVID-19 cases in the region has prompted the government to step up control measures, which have affected operations at ports. This is likely to hit demand to a certain extent in July.

 

However, softer demand from China this month is likely to be offset by an anticipated stronger recovery in the US, Europe, and India, the association said.  End

 

Edited by Mainak Moitra

 

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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