Auto sector growth to push up demand for rubber

Auto sector growth to push up demand for rubber
Kottayam: The progress achieved by the global automobile industry during the second lap of the current year gave a fresh impetus to the demand for rubber and it continues to scale further highs.The weather changes due to global warming in most of the rubber producing countries have affected production. According to the assessment of the Association of Natural Rubber Producing Countries (ANRPC), rubber production will lower by 6 per cent this year.Major consumersChina is the major rubber consumer and requires maximum rubber for its use now, since its stock position is very low. The US and the European countries are procuring large quantities of rubber. The industrial progress in Japan has also enhanced consumption in that country.India, which overtook Japan in rubber consumption, made a record import during the current fiscal. The untimely rains and floods that followed reduced the availability of rubber from Thailand and interrupted the movement of rubber there. Once the rains subside, winter would commence.According to weather forecasts, winter will be severe this year. This will also adversely affect rubber production. (BL)http://www.thehindubusinessline.com/2009/11/25/stories/2009112550741600.htm