Polymer imports into India become costlier on custom exchange rate hike

Sep 06: Polymer imports into India will become more costly as the Government of India has hiked the customs exchange rate for imports to Rs 67 per USD from Rs 65.35 per USD. Costly international offers and the hike in the customs exchange rate will further raise landed costs of polymer imports into India, that is likely to prompt Indian producers to further raise their polymer prices in the succeeding price revisions. Plastic item manufacturers in the country should, thus, replenish their raw material inventories by procuring polymers from the domestic markets, avoiding any wait-and-watch stance, despite prevalence high polymer prices in the markets. 
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