Wednesday, June 25, 2014

Relief extended


During 2013-14, auto industry has been struggling and car sales fell 4.65% to 17,86,899 units compared to 18,74,055 units in 2012-13. In the Interim Budget presented in February 2014, excise duty on small cars, scooters, motorcycles and commercial vehicles was reduced to 8% from 12%, 24% from 30% for SUVs, 20% for mid-sized car from 24% and 24% for large cars from 27%, which is applicable till 30th June 2014. Today, Finance Minister Arun Jaitley extended the excise duty cut till December 2014. The industry hope demand to improve in the festive season between September and December.

Today the benchmark RSS4 grade rubber closed at `.148 a kg at Kottayam, while RSS3 grade closed at `.129.92 a kg at Bangkok and Malaysian SMR20 closed at `.107.59 a kg. The last traded prices on National Multi Commodity Exchange at 4.40 pm IST, for July 2014 were at `.145.01 a kg, August at `.144.91, September at `.143.90 and October at `.143 a kg. On Tokyo Commodity Exchange, July 2014 futures series closed at ¥207.2 a kg, August at ¥209.6, September at ¥212.7, October at ¥214.8, November at ¥217.3 and the contract for delivery in December 2014 closed at ¥219.4 a kg.

For latest rate of Currency Exchange: www.rubber4u.com/Statistic/Notices

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