Economy and Politics | Rubber buyers ask PM to curb rising prices

Economy and Politics | Rubber buyers ask PM to curb rising prices
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First Published: Thu, May 27 2010. 09 46 PM IST
Updated: Thu, May 27 2010. 09 46 PM IST
Kochi: Associations representing rubber-consuming industries on Thursday sought the intervention of Prime Minister Manmohan Singh to help arrest the rising prices of natural rubber.
The representation was made by the All-India Rubber Industries Association, Automotive Tyre Manufacturers’ Association and Indian Cycle and Rickshaw Tyre Manufacturers’ Association.
In a Tuesday ruling, the Delhi high court asked the Union government and trade promotion body, the Rubber Board, to look into a request by the three groups to allow duty-free imports of rubber and a ban on the rubber futures trading, among other things.
In a letter to the prime minister, the groups said natural rubber prices had risen 13% to Rs170 per kg on 25 May from Rs151 per kg on 10 May. They have also asked for a correction of the import duty structure of 20% for rubber and around 7.5% for finished rubber goods.
Ajayan
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First Published: Thu, May 27 2010. 09 46 PM IST