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India's paper producers eyes price hike
MUMAI: Nearly all of the paper producers in India are reported to be ?revising? prices of printing and writing papers, along with other paper-based products. According to a report, large and small paper makers will push for an $17.04 per ton increase in the first quarter of 2006. The price hikes are the result of a prevailing demand-supply gap in the country. Industry observers expect the increases to go through, citing the slim possibility of changing the demand-supply scenario and the unlikelihood of any new capacity coming on-stream in the near future. In addition, imports are expected to remain low due to high duties applied to paper and paper products entering the country. Local paper traders have thus demanded that the duty be reduced from 15 per cent to 5 per cent to make the imported paper competitive, the report added.