Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Rubber Import Getting Costlier Due To High Prices.


Date: 04-08-2011
Subject: Rubber Import Getting Costlier Due To High Prices
KOCHI: The import of natural rubber by tyre manufacturers at a lower duty allowed by the Centre now looks like a costly affair because of a rise in global rubber prices. A lean season and the absence of internal demand are keeping the domestic rubber prices low.

The industry is yet to complete the import of 40,000 tonne of natural rubber allowed by the government at 7.5% duty. "We are waiting for some clarifications and approvals before proceeding further," said Rajiv Budhraja, director general of Automotive Tyre Manufacturers' Association.

But international prices have risen during the two weeks from the time of announcement. The prices have shot up from around Rs 211 per kg by Rs 5 now while domestic rubber prices have fallen by Rs 7 to Rs 207 per kg. The tyre industry is likely to wait for some time after getting the licences for executing the import.

Experts say global rubber prices may show a downward trend in the short term with a weak demand from China during the month and lower crude oil prices due to a deteriorating world economy. In fact, the industry had argued for the import of 1 lakh tonne without duty.

"If that was the case, the industry would have gone ahead with the import now. But now even with a reduced 7.5% duty, it doesn't look feasible. The notification was a big let-down," said Vinod Simon, president of All India Rubber Industries Association.

Meanwhile, internal demand for rubber has taken a hit with a drop in automobile sales and an increase in interest rates. "The offtake has gone down as the demand from over 1,000 factories has thinned," said N Radhakrishnan, former president of Cochin Rubber Merchants Association.

But this is expected to a temporary phenomenon. By September, car sales could pick up activating the demand for natural rubber. With the arrivals increasing in September, there could be pressure on the domestic prices. "But prices won't fall by a large margin as it could lead to hoarding by farmers," said George Valy, president of Rubber Dealers Association.

Source : economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 30-06-2025
Notification No. 32/2025-Customs
Seeks to amend Notification No.130/2010- Customs dated 23.12.2010 to extend the exemption benefits to Air Canada.

Date: 30-06-2025
Notification No. 44/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 13-06-2025
Notification No. 43/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 11-06-2025
Notification No. 42/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 06-06-2025
Notification No. 13/2025-Customs (ADD)
Seeks to impose Anti Dumping Duty on imports of ‘Insoluble Sulphur’ originating in or exported from China PR and Japan.

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 30-05-2025
Notification No. 31/2025-Customs
Seeks to i. extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.03.2026; ii. to reduce the basic custom duty on crude soya bean oil (HS Code 15071000), crude sunflower oil (HS Code 15121110), and crude palm oil (HS Code 15111000) from 20% to 10%

Date: 26-05-2025
NOTIFICATION No. 37/2025-Customs (N.T.)
Notification of ICD Jalna, Maharashtra u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962

Date: 23-05-2025
Notification No. 30/2025-Customs
Seeks to amend notification No. 55/2022-Customs dated 31.10.2022 to remove the condition required for availing exemption on Bangalore Rose Onion.

Date: 23-05-2025
NOTIFICATION No. 36/2025 - Customs (N.T.)
Amendment in the Notification No. 63-1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Raxaul



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001