India's natural rubber imports have declined by 9% to 2.88 lakh tons in the first eight months of the current financial year. The rubber imports stood at 3.16 lakh tons during the April-October period in the last financial year, according to the data compiled by the Rubber Board. Total rubber imports in FY 2014-15 touched an all-time high of 4,15,000 tons due to lower international prices and fall in domestic production.
The Kerala government had also asked the Centre to regulate import of natural rubber and hike excise duty to check its falling prices in the domestic market. In April this year, the Centre hiked import duty on natural rubber to 25% or Rs 30 per kg, whichever is lower, to protect interest of growers and curb imports that touched record during last fiscal.
Meanwhile, the natural rubber production also declined by 16% to 3.77 lakh tons during the period from 4.67 lakh tons in the April-October period of 2014-15.