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anilsoharu
China rotating out Indian tyre exports - Subscribe
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Tyres exporters India this year are heading towards negative territory largely due to the increasing competition from Chinese manufacturers in the traditional markets of Indian tyre makers. Tyre exports, which clocked a total turnover of Rs 3,000 crore last fiscal, are set to fall by 10-12 per cent. “What is happening is the traditional export markets for Indian companies have been overcrowded by Chinese tyres. The international market is becoming increasingly challenging for Indian tyre companies,” he told Business Line. Late last month, the US imposed a 35 per cent tariff on Chinese tyres to protect the American tyre industry. With the US markets (China’s third largest export destination) turning unfavorable, Chinese manufacturers would be more aggressive targeting other markets. Well before the US’ impost, Chinese tyre exporters unleashed a price offensive against Indian companies in their traditional markets such as West Asia, Latin America and South-East Asia, according to industry representatives. As a result, from April to July, India exported 15.88 lakh tyres against 20.42 lakh previously, a decline of 22 per cent. Another reason attributed to the fall is the slowdown in the global automotive industry. Since the industry is going through a downturn, the size of the pie for tyre makers remains the same or is shrinking. |
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anilsoharu
Asia's food security hinges on rice exporters India Nov 3rd, 2009 11:42:39 pm - Subscribe
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Rising rice prices and possible shortages in the world's poorest countries will hinge on what major growers India, China and Thailand do to make up for millions of tonnes of the staple lost to floods and droughts. Jim Guinn, vice president of US Rice Federation, said, “Just the fact that India has significantly reduced production alone is a significant development given the tightness of supplies that we see in the world today.” According to media reports, traditionally India was one of the world's top rice exporters, which may import 1.1 million tones to 3.8 million tones next year to replace production losses after a drought ravaged the country's rice bowl. “But the fact that they may actually be an importer is of even more importance,” Guinn added. |
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anilsoharu
India may possibly import rice from Thailand Nov 23rd, 2009 11:46:33 pm - Subscribe
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Traditional rice exporter India is looking at importing rice from Thailand and Vietnam through diplomatic deals. This would be the first time in 20 years that India imports the grain.Three state-run trading firms last month floated rice import tenders totaling 30,000 tonne and received 18 bids ranging from USD 373 to USD 599 per tonne. Government officials on Monday said bids submitted for supplying rice to PEC would be valid until November 23. But the validity of bids received by STC and MMTC expired on Tuesday, officials, who did not wish to be named, with global trading firms, which participated in the tenders, said they did not receive any communication either from MMTC or STC. Although India has ample grain stocks, this year's poor monsoon has raised doubts about the output of summer-sown crops the government on November 3 said summer-planted rice output could record a bigger-than-expected fall of 18% to 69.45 million tonne compared with the previous year. Some private Indian firms have sealed deals to import 10,000 tonne of wheat, for the first time in two years. |