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Tuesday, Sep 21, 2004

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RIL cuts polymer prices by Rs 2,000 per tonne

Our Bureau

Mumbai , Sept. 20

RELIANCE Industries Ltd (RIL) has announced a reduction of Rs 2,000 per tonne on prices of all types of polymers.

The company said this has been done to help the Government efforts to battle inflation and contain consumer prices.

RIL said with this reduction, the company will be absorbing 40 per cent of the rise in the input cost, and its prices will continue to be lower by $120 per tonne compared to the prevailing international prices. The difference rose to a peak of $150 per tonne, substantially below the landed price of imported polymers, a company release said.

An analyst tracking the sector, however, said the company had hiked prices of all its products earlier this month and the reduction of Rs 2 per kg announced today will bring them down to the August levels.

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