KOCHI (Commodity Online): India's tyre industry has urged the government for waiver of customs duty on natural rubber imports upto one lakh tonnes to make up the gap between production and consumption gap.
According to Automotive Tyre Manufacturers Association (ATMA), the rise in raw material cost which has putting pressure over the industry which inturn affect the profit margin of the industry, reported The Economic Times
Since the global economic slowdown, the tyre industry has been facing problems.
More than 70% of the trye industry turnover accounts for raw materials.
For Februuary delivery, in Tokyo commodity Exchange (TOCOM), natural rubber traded at 296.5 yen per kg and on National Multi Commodity Exchange (NMCE), the commodity traded at Rs 18,930 per ton on 3th February.
