In 2016, India rubber imports will grow by 18%
India Cochin news, India industry officials said recently that the country's natural rubber imports in next fiscal year will increase 18% to 500,000 tons, low price to promote growth in domestic consumption, as well as overseas. India rubber traders Union President George Valy India rubber between meetings, said that domestic and overseas huge price differential will ensure that the increase in imports. Most of the country from Thailand, and Malaysia, Indonesia and Viet Nam buy rubbers.
The current fiscal year ending March 31, imported about 425,000 tons of rubber.
India rubber price of us $ 2.10 per kilogram, Malaysia US $ 1.41, CEAT company, Apollo tyres company (Apollo Tyres), JK tyres and industrial company, MRF companies and tire manufacturers, Balkrishna Industries Ltd increased imports. Rajiv Budhraja, General Manager of the automotive tire manufacturers Association said fiscal 2015/16, India rubber consumption will increase to 1.1 million tons, compared with the current annual growth of 10%, in anticipation of increased demand for tyre industry. Its two-wheel tire usage is expected to be increased $literal%, growth in demand for tyres grow at, 2-4% commercial vehicle growth.
Rubber-tire manufacturers will benefit from the largest consumer groups India auto sales growth because the new Government under the leadership of the country's economic prospects. Budhraja added that rubber prices rose slightly in recent week will help rubber farmers resume tapping, used widely because of low prices before some rubber farmers to delay. Prices are good and the weather improved slightly, output is expected to grow 15%. India natural rubber production next year is likely to exceed 800,000 tons, produced about 700,000 tons this year.