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 Indian Tyre Companies Are Announcing Price Hike

Indian Tyre companies are announcing price hikes of its rubber, to cope up the rising prices of raw materials.

Apollo Tyres, MRF, JK Tyres and Ceat have already increased the prices by 15-20% since January 2010 and they are now considering for another price hike. JK tyres has already been thinking over a 4% price hike across all its product categories. Other tyre companies are also planning on price revision.

According to AS Mehta, Marketing Director at JK Tyres, said that the company had faced one of the worst quarters (July-September) in the past several years on the back of unprecedented rise in input prices.

He added that, even several rounds of price hikes have not been sufficient to offset the increase of price of natural rubber and other inputs. Currently, natural rubber prices are around 160 per kg and if this price is constant, there will be no further tyre price hike atleast for this year.

Either ways, we could still expect a very small price hike in the coming days, to be announced by various tyre companies.