Prices of natural rubber to moderate

As per the comment by Indian Commerce Secretary, Rahul Khullar, government may reduce customs duty on natural rubber which is at 20% now. Rubber prices should moderate with a reduction in customs duty. 

Internationally the prices of natural rubber is in the range Rs.150-160 per kg while it is Rs.170-180 in the domestic market. This has been hurting tyre manufacturers. Automobile industry is in a quandary where they are not able to meet customer demands due to lack of tyres in the market. Recently India became the second largest consumer of natural rubber after China. One leading commercial vehicle manufacturer is rolling out trucks with only 4 tyres fitted. They are fitting another two tyres while the vehicle is with dealers. 

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