The future of natural rubber (NR) in India looks promising with a projected production and consumption at 8,75,000 tonnes and 14,25,000 tonnes, respectively for FY-25. The figures were shared at the 187th meeting of the Rubber Board at Kottayam presided by Sawar Dhanania. Chairman M Vasanthagesan, Executive Director, presented the report on the current status of the Indian NR sector.
India, according to the report, produced 8,57,000 tonnes of natural rubber during FY24, marking a significant growth of 2.1 per cent compared with 8,39,000 tonnes in FY23. The positive trend was mirrored in domestic consumption, which saw a robust growth of 4.9 per cent, reaching 14,16,000 tonnes compared to 13,50,000 tonnes in the previous year.
Stocks lower
The cumulative import and export of NR during FY24 were 4,92,682 tonnes (5,28,677 in FY23) and 4,199 tonnes, respectively. The total stock held with growers, processors, traders, and manufacturers at the end of March is estimated at 3,72,085 tonnes against 4,42,602 tonnes in March 2023.
In FY24, the country imported 1,69,820 tonnes of compounded rubber. The export of compounded rubber during the same period was 18,069 tonnes.
Under the ‘INROAD’ project, a collaborative effort between the Rubber Board and four major tyre companies represented by the Automotive Tyre Manufactures Association (ATMA), rubber planting has been successfully managed in 69,307 hectares. As a testament to the industry’s commitment to the sustainability of NR sector, the ATMA has committed a significant contribution of ₹1,000 crore for rubber plantation development in two lakh hectares in the North-East within five years.