In January 2013, Index of Industrial
Production (IIP), which includes output at factories, mines and utilities, rose
2.4%, compared to the level in the month of January 2012. The cumulative growth
for the period April-January 2012-13 over the corresponding period of the
previous year stands at 1.0%. All sectors have shown a marked improvement when
compared to the December numbers. Manufacturing growth improved to 2.7% as
against -0.7% and consumer goods growth too improved to 2.8% while it was -4.2%
in December 2012. In January, Rubber and plastics products sector growth was -4.3
and cumulative growth for the period April-January 2012-13 over the
corresponding period of the previous year stands at 1.3%. Cable, Rubber
Insulated grew 140.1% in the category of items showing high positive growth
during January 2013 over the same month in previous year.
Natural
rubber prices were seen rising to its highest since early January, triggered by
anticipation of a rise in import duty. A rebound witnessed in the overseas
market and lean production season in the major rubber growing areas bolstered
the prices. TOCOM rubber futures jumped to a two week high boosted by upbeat
economic data from US and on weaker yen.
Read
lot more in Rubber4U – 15th March 2013 issue
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