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India April-Feb synthetic rubber output up 1.5 pct

MUMBAI, May 28 (Reuters) - Indian synthetic rubber production rose 1.5 percent in April-Feb, but higher consumption by tyre companies increased imports, according to the latest data from Rubber Board.

Total production during the period was 92,384 tonnes, compared with 91,054 tonnes a year ago, the data showed.

Consumption in Apr-Feb rose 10.2 percent to 272,535 tonnes, while demand from the automotive tyre sector increased 13.2 percent to 176,259 tonnes.

Tyre makers account for more than 60 percent of the domestic consumption.

Higher consumption led to more imports, which rose 13.3 percent to 261,186 tonnes during the period.

Total synthetic rubber stocks stood at 23,800 tonnes at the end of February.

Natural rubber is tapped from trees, while synthetic rubber is man-made and produced from petroleum products. (Reporting by Debiprasad Nayak, editing by Harish Nambiar)

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