best stock advisory company in indorestock market advisory tipsTop 10 advisory company in IndoreTop 10 advisory in indore
NCDEX tips, Tyre units demand duty free rubber imports
The widening natural rubber deficit in the country has prompted the tire industry to seek duty-free imports of rubber equivalent to the projected domestic deficit, saying that the 25 percent import duty is hurting its price competitiveness.
The emerging situation has led to the domestic scarcity of the raw material, as the industry consumes 65-70 percent of natural rubber. A drastic drop in deficit as projected will only increase the industry’s dependence on expensive imports, said Satish Sharma, Chairman, Automotive Tyre Manufacturers Association (ATMA).
Quoting the Rubber Board’s revised figures, he pointed out that the Board has projected a domestic output of 7.3 lakh tonnes (lt) and consumption of 11 lt for the FY 17-18 and a deficit of 3.7 lt (higher than the figure of 3.5 lt in the previous year).
Earlier in the year, the Board had projected a deficit of 2.7 lt which has recently been increased to 3.7 lt. In the process, the gap as a percentage of consumption has increased from 25 to 34 percent.
Adding to the industry’s worry is the fact that from mid-February onwards the lean production period will commence which will last until September. So, availability will be significantly curtailed in the off-peak months.
JOIN US NOW OR CRY LATER | HURRY UP SUBSCRIBE OUR FREE TRADING TRIALS STOCK MARKET TIPS CLICK LINK >> Stock Advisory Company
0 comments
Note: only a member of this blog may post a comment.