Mercedes-Benz is bullish on India for which
it is doubling capacity from 10,000 units per year at present to 20,000 units
per year. Mercedes-Benz India will invest `.250 crore. The
growth in passenger car segment had been southwards, while the growth in the
luxury car segment has been just the opposite. According to company’s
estimates, the luxury car market in India will be 4% of the total passenger car
segment by 2020, which is estimated at nearly eight million units.
Rubber extended decline as a drop in oil and
a slowdown in Chinese economic data hurt market sentiment. Brent crude dropped
below $100 a barrel for the first time in a month and WTI declined amid
speculation that stockpiles will climb after the Organization of Petroleum
Exporting Countries kept its production target unchanged.
According to the Association of Planters of
Kerala, natural rubber growing sector in Kerala is going to face an
unprecedented situation soon, due to frequent fall in natural rubber prices and
increasing cost of production. The cost of natural rubber production is
shooting up as never before, with the price of raw materials, including
fertilisers, going up by 40 to 50%. Rubber prices have fallen by 47% in the
past 24 months, were as labour cost has gone up by 61% during the same period.
Rubber came under pressure as it lost support
from the currency and energy markets. Rubber for delivery in November touched a
low of ¥251.1 a kg and closed at ¥257 a kg on the Tokyo Commodity Exchange. The
prices of RSS4 grade closed at `.169 a kg at Kottayam
and the price of RSS3 closed at `.165.94 a kg at
Bangkok, while Malaysian SMR20 closed with a positive note at `.134.60
a kg.
Read
lot more in Rubber4U – 15th June 2013 issue
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