Contact Me

 LinkedinFacebookFacebookFlickrTwitterSlideshare Google Buzz



Import will enhance higher prices in World Market

Tyre industry demands duty-free import of 1 lakh t natural rubber

Kochi, July 30 With a serious crunch operating in the availability of natural rubber (NR), the tyre industry has reiterated its demand for duty-free import of 1 lakh tonnes of NR without any further delay.

The tyre industry, that consumes 57 per cent of the natural rubber produced in the country, is facing the worst ever raw material availability crisis. Over the last few days, the availability of sheet rubber has been woefully inadequate to meet the requirement of the industry that is already bearing the brunt of high rubber prices, Mr Rajiv Budhraja, Director General, Automotive Tyre Manufacturers’ Association, said. Currently, domestic NR prices are ruling at a higher level than even international prices. Natural rubber accounts for 41 per cent of the raw material cost in the tyre industry, he said.

“It has never happened that the very availability of sheet rubber becomes an issue despite the fact that the natural rubber prices have touched a historic high. The average landed price of NR was Rs 134 during July, which is 51 per cent higher than the average price in September last year,” he said.

Courtesy: Hindubusinessline

These kind of threaten to bring maximum stock to the market is a game. So that after one month the Rubber Board will call a meeting of exporters to export rubber (to reduce International prices – hidden agenta). This kind of routine export import will continue. If import of 1 lakh tonnes of Rubber on 0% import duty will enhance the International price above Rs. 140/Kg. So I would like to say the tyre Industry import Rubber as soon as possible to raise the International price at higher level. If the Import is carried out from Bangkok, then I will congratulate the Industrial sector.

A favourable change in weather continued to put pressure on the prices as more dealers and growers joined the sellers queue, an observer said. It means the import will not happen and know the yield in the coming future, because growers or small dealers are not united.  The surplus showing statistics can’t bring rubber to the market. Let us see the minimum stock with small dealers.

The month end stock of July 2008 will appear on 30th October automatically to see the game which is published/saved earlier. So that I can remember it.

Comments are closed.