Friday, November 23, 2012

Summit ends without deal & Thailand plans to boost rubber market

The European Union concluded a summit without a deal on the 27 member bloc's long-term budget. European Council President Herman Van Rompuy, who presides over the summits, said the constructive discussions at the summit meant an agreement could be reached early next year. He added that the national leaders had instructed him and European Commission President Jose Manuel Barroso to continue working toward consensus over the coming weeks.

Thailand plans to boost rubber market by buying 250,000 tonnes of natural rubber by March. Since May to date, the Thailand government has bought about 170,000 tonnes of natural rubber from local farmers. The purchases will be funded by a Baht 30 billion plan that was approved by the Thailand government in mid-September to buy about 300,000 tonnes of natural rubber.

Incorporated in 1971, Modi Rubber Ltd. has entered into a partnership with Japanese company – Asahi Organic Chemicals Industry Co. Ltd. for making and selling Resin coated Sand. Modi Rubber plant located at Modipuram, is mainly a export focused tyre maker, exporting to U.K, U.S, Bangladesh, Afghanistan, Syria, Sri Lanka and the Latin American countries.

Indian auto industry produced 1,829,490 vehicles in October 2012 as against 1,596,500 in October 2011, which grew by around 15%. The cumulative production for April-October 2012 shows production growth of only 4.12% over same period of 2011. 

In October 2012 overall sales grew by 14.81% over October 2011. The overall growth in domestic sales during April-October 2012 was 5.26% over the same period of 2011. Auto industry struggle continues despite festive season spurt in sales in some segments. During April-October 2012 overall automobile exports registered negative growth of 4.94% compare to same period of 2011.

Read lot more in Rubber4U – 1st December 2012 issue

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