Rubber Board may up FY06 export target

Kochi, Nov 23 | Updated: Nov 24 2005, 05:34am hrs
Rubber Board is likely to hike this financial years export target for natural rubber by 10,000 tonnes, traders said.

Traders said that the board wants to revise the target to 50,000 tonnes from 40,000 tonnes, following a jump in exports in April-November, the first eight months of this financial year.

Indias natural rubber exports were 34,102 tonnes up to Nov 16 this financial year, 32% more than in the year ago period, according to the board. Prospects for scaling exports look bright, as we are close to the years target. We could export another 20,000 tonnes in the remaining months of the financial year, a trader said in Kochi.

In 2004-05 (April-March), the country exported 46,169 tonnes natural rubber. Exports increased because of positive gap between overseas and local prices.a trader said in Kochi.

CRISIL MarketWire