India is set to emerge as the world’s second largest consumer or rubber, overtaking China and next only to the US. India has moved up the ladder and is now ranked third in consumption.
China’s rubber consumption is projected to decline by 5.5% this y ear to 9.53 million tonnes, according to data released by the Rubber Board.
Meanwhile, India’s rubber production is likely to touch 8.67 lakh tonnes in 2009-10, the target set by the Board. The production target hinges that weather improved between the months of October and January, the main tapping season for rubber.
The Board is expecting a rise in rubber prices in the next few months and stabilise at around Rs 115-120 a kg from the existing level of Rs 102 -105 a kg.