Natural Rubber (NR) prices have been at relatively low levels during the recent years in domestic and international markets. The domestic NR prices are highly sensitive to import of NR. Hence, to regulate the import of NR, the Government has increased the duty on import of dry rubber from “20% or Rs. 30 per kg whichever is lower” to “25% or Rs. 30 per kg whichever is lower” with effect from 30.4.2015 in order to create demand for locally produced rubber. The Government has also reduced the period of utilization of imported dry rubber under advance licensing scheme from 18 months to 6 months.
This information was given by the Minister of Commerce and Industry, PiyushGoyal, in a written reply in the Lok Sabha