J.K. Tyre and Industries Ltd. will raise prices of its passenger car tires between 4%-6% from Dec. 21 or 22, to offset the increasing cost of natural rubber, its director of marketing said Monday.
"This increase will compensate only a part of the rise in raw material prices," A.S. Mehta told Dow Jones Newswires. "We have to see what kind of price increase the market can absorb."
Mehta said natural rubber prices have risen to INR125-INR130 per kilogram, from INR100-INR105/kg over the last two months.
The company will also raise prices of its truck and bus tires by 3%-5% in the first week of January, he said.
(Source: irco.biz)
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