India registers quantum leap in Natural Rubber exports in last fiscal

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Kottayam: The Rubber Board today announced that Natural Rubber (NR) exports from India registered a quantum leap during the last financial year with 20,030 tonnes leaving the country. By contrast during 2015-16, export was only 865 tonnes. Exports recorded 30,594 tonnes in 2012-13, but and thereafter, owing to the relatively low price of NR in the international market exports showed a declining trend.

During 2016-17, different types of NR viz. RSS (363 tonnes), ISNR (6508 tonnes), Latex (13,023 tonnes), and others (136 tonnes) were exported to different countries. The majority of exports were to Germany, Brazil, the US, Italy, Turkey, Belgium, China, Egypt, Netherland, Malaysia, Pakistan, Sweden, Nepal, and the UAE.

Branding of NR, initiated by the Kottayam-based Rubber Board helped Indian exporters to claim their market share as the quality assurance helped boost buyers’ confidence. About 65 percent of the NR exported was under the brand ‘Indian Natural Rubber’. Indian Natural Rubber branding is an export promotion strategy promoted by the Board since 2011 with an objective of distinguishing Indian rubber in the international market with its discerning quality features.

Concentrated latex constituted of 65 percent of the total NR exports. The domestic demand for concentrated latex was in a declining but exports helped to stabilise the domestic prices.

The Board is promoting export as a market intervention strategy to adjust imbalances in the domestic market owing to unscrupulous imports of rubber. Exports during this peak production period of December 2016 to March 2017 helped the domestic market maintain market equilibrium.

Kerala Biz News

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