14,16, 000 tonnes compared to 13,50,000 tonnes in previous year
News Alliance
NATIONAL, January 03, 2024: India has recorded a 2.1 per cent growth in natural Rubber (NR) production during the last fiscal at 8,57,000 MT up from 8,39,000 MT in the previous year. Consumption recorded a significant increase of 4.9 per cent to 14,16, 000 tonnes compared to 13,50,000 tonnes in the previous year.
The price of natural rubber (NR) has been trending upward, and price of RSS-4 reached Rs.192 after touching Rs.180 on 01 November 2024. In the global scenario also, prices are on the rise. The Bangkok market is showing an increase from Rs 186 in mid-November 2024 to around Rs.200, at present.
The surge in price is attributed to China's stimulus packages, anticipated global monetary easing, and decreased stocks in China, the largest consumer of NR.
Over the years, NR prices are showing an increasing trend. Average prices in the Kottayam market for November 2022-23, 2023-24 and 2024-25 were Rs 140.39, Rs 153.52, and Rs 184.85, respectively. Similarly, Bangkok market prices were Rs 127.25, Rs.141.93 and Rs 196.16, respectively.
According to the Association of Natural Rubber Producing Countries (ANRPC)’s data, production of NR is showing a decreasing trend in the main rubber producing countries. Thailand's NR production in 2019 to 2024 dropped from 4849,000 MT to 4686,000 MT.
Similarly production in Indonesia dropped from 3301,000 MT to 2516,000 MT, and production in Malaysia dropped from 640,000 MT to 340,000 MT during the period . This decline in NR production will likely exacerbate global supply constraints, driving prices up in the years to come.
This is the right time to engage in tapping and any shortage of rubber in domestic market in the coming months, may lead to import of NR, and subsequent fall in price. So in the present scenario, the Rubber Board encourages all growers to capitalize on the favorable market conditions by engaging in tapping activities and get maximum yield.
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