JK Tyre Announces 2-4% Price Hike
Indian manufacturer, JK Tyre has decided to raise its prices by between two and four per cent on the back of raw materials prices going “up to an all time high, touching Rs 210 or even Rs 220 per kg of natural rubber,” the company’s marketing director AS Mehta told newspaper The Economic Times.
Mehta said rising natural rubber prices were absorbed in the fourth quarter of 2010, but the continued increases from 180 rupees at that point has made price hikes a necessity. “The current increase in rubber price is unbearable and we have decided to jack up the selling price of all types of tyres,” he concluded.
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