: Tyre manufacturers cite shortage of natural rubber, seek duty free import #FinanceIndia #StockMarketNEWS Tyre manufacturers cite shortage of natural rubber, seek duty free import Kochi, 25 Nov (KNN)
@stockMarketNEWS Thu 25 Nov, 2021
Tyre manufacturers cite shortage of natural rubber, seek duty free import #FinanceIndia #StockMarketNEWS
Tyre manufacturers cite shortage of natural rubber, seek duty free import Kochi, 25 Nov (KNN) The Automotive Tyre Manufacturers Association (ATMA) has said that the lower availability of natural rubber is impacting the production process during a time of high demand.
They have reached out to the Ministry of Commerce & Industry that the scarcity of natural rubber during a peak season in Kerala is highly unexpected which has the potential to disrupt the tyre industry value chain.
“The scarcity comes at a time when domestic production of commercial vehicles is looking up after a prolonged downturn. Truck and bus tyres have relatively higher natural rubber content, thus its demand is higher,” said Rajiv Budhraja, Director General ATMA.
As reported in Financial Express, he stated that the availability crisis is likely to throw a spanner in the works. Hence, duty free imports of natural rubber need to be allowed to the extent of projected demand supply gap in country.
The association has also urged for the removal of restrictions pertaining to natural rubber at various ports.
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