In the first six months of 2014, the imports of natural rubber rose by 58% and stood at 1.61 lakh tonnes (LT) as per information provided by Commerce and Industry Minister, Nirmala Sitharaman. The imports of natural rubber during the January-June period of last year stood at 1.02 LT.
The prices of natural rubber are falling in the domestic market. This fall in prices is mainly due to declining trend of prices in the international market, relatively low growth in the demand for specific norms of natural rubber, and increased level of import.
Besides, the government has set up an Expert Committee for National Policy on Rubber, consisting of representatives of various stakeholders in the rubber sector to examine all relevant issues and to address the concerns of various stakeholders of the rubber sector. The committee has the task of reviewing issues concerned with production, demand, marketing, trade including imports, taxation and evolving a policy aimed at protecting the interest of growers as well as the rubber industry.