The world's largest rubber consumer - China
will cut import taxes on two types of natural rubber products for 2013. Natural
rubber import tariffs recommended provisional tax rates: latex 10% or 720 yuan/tonne,
both from low; Smoked sheets and technical classification of natural rubber
20%, or 1,200 yuan/tonne, both from low, the ministry said in a statement. The
maximum tax was set at 1,600 yuan a tonne in 2012. The tax rate for technically
specified natural rubber (TSNR) will also be lowered to a maximum of 1,200 yuan/tonne
in 2013, down from 2,000 yuan/tonne in 2012, the ministry said.
The global natural rubber market is now in a bearish
mode as demand is sluggish across the world. In India, due to poor local
production and the lower price tag in the global markets import have been on
the rise. India’s natural rubber import rose 32.5% to 153,855 tonnes during
April to November 2012 from 115,885 tonnes in the corresponding period of
previous year.
Kerala State Cooperative Rubber Marketing
Federation has requested the Ministry to impose a total ban on import of rubber
as well as encouraging exports by extending subsidy. The Federation also
requested to grant a short term loan of `.50 crore as a
need-based working capital and `.1 crore each to the
member societies to reinforcing the cooperative marketing set up.
Read
lot more in Rubber4U – 1st January 2013 issue
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